The dollar edged higher on Thursday as investors reassessed their expectations of the scale of rate cuts by the Federal Reserve this year, with an air of caution hanging over markets after an impressive risk rally last month.

Asian markets fell Wednesday in line with a sell-off across most of the world as traders took their cash off the table after a blockbuster end to 2023, with eyes now on the release this week of Federal Reserve minutes and US jobs data.

The Indonesia Stock Exchange (IDX) Composite (IHSG) concluded the first trading session of 2024 on a positive note, gaining 50.79 points, or 0.70 percent, to finish at 7,323.58.

There were also losses in Seoul, Singapore, Taipei and Jakarta, though Sydney and Manila edged up.

Banking, telecommunications and consumer goods are expected to propel the Indonesian bourse to a new all-time high this year, with bullish scenarios forecasting a breakthrough into the 8,000 range.

The dollar looked set on Friday to end 2023 with a loss, reversing two straight years of gains, dragged by market expectations that the US Federal Reserve could begin easing rates as early as next March.

Asian shares touched five-month highs on Thursday as market wagers on ever-more aggressive rate cuts extended a huge rally in US stocks and bonds, but also left plenty of scope for disappointment next year.

Asian stocks crept higher on Tuesday and the dollar lurked near a five-month low as cooling US inflation bolstered bets the Federal Reserve would cut interest rates early next year.

Asian stocks traded tentatively on Tuesday, while the dollar lurked near a five-month low as cooling US inflation bolstered bets the Federal Reserve would cut interest rates soon.

The IDX Composite rose by 0.39 percent to 7,237.52 on Friday ahead of the vice presidential candidate debate, which will focus on the economy.

Asian markets pressed ahead with their rally Friday as another round of US data further stoked expectations that the Federal Reserve will cut interest rates more than it has indicated next year.

The IDX Composite inched 0.14 percent down to 7,209.6 on Thursday after central bankers decided to maintain the benchmark interest rate at 6 percent.

Asian shares fell on Thursday after Wall Street snapped a long winning streak, while Treasury yields were near five-month lows on hopes Britain's notably soft inflation reading would be echoed in looming US price data.

The IDX Composite closed at 7,219.67 with a 0.44 percent gain on Wednesday, driven by positive market sentiment.

The Energy and Mineral Resources Ministry has begun studies to map the potential of rare earth minerals in domestic coal and is also considering other ways to increase the value derived from the commodity beyond its use as a power plant feedstock.

The IDX Composite fell by 0.99 percent to 7,119.52 on Monday. Eight sectors declined as anticipation grows for Bank Indonesia's RDG meeting.

The energy ministry has said that renewables are now competing head-to-head with coal in terms of power generation costs, and that "there is no reason anymore not to use renewables”.

Asia stocks slipped on Monday in a subdued start to a week where Japan's central bank might edge further away from its uber-easy policies, while a key reading on US inflation is expected to underpin market pricing of interest rate cuts there.

The price of uranium reached the highest level for almost 17 years on Friday, driven by constrained supply and accelerating demand, against a backdrop of renewed interest in nuclear power.

The bourse closed up 0.21 percent at 7,190.9 on Friday to mark a record high for the year, trumping its previous record booked just a day prior.

China's central bank on Friday boosted liquidity injections but kept the interest rate unchanged when rolling over maturing medium-term policy loans, matching expectations.

The IDX Composite closed in the green, rising 1.42 percent to 7,176.02, after the United States Federal Reserve maintained a fixed interest rate.

The IDX Composite rose by 0.52% to close at 7,125.31, recovering from a decline the day before. An economist expressed optimistism about Indonesia's stock market next year.

If 2022 was the year that "broke bitcoin", 2023 has been the year of trauma recovery.

Stocks in Asian markets including Jakarta rose Tuesday, following Wall Street's lead as traders awaited a bumper round of market-moving events, starting with the release of US inflation data later today.

BI also noted that of the 29.63 million merchants in the country that accepted QRIS, 92 percent were micro, small and medium enterprises (MSMEs).

Markets diverged Monday as investors awaited key US data and a Federal Reserve policy decision after labor figures last week suggested the US central bank was on course to deliver a soft landing for the economy while reining in inflation.

The IHSG closed the week on a high note, gaining 0.35 percent to 7,159.59 on news of growing foreign exchange reserves.

Asian markets mostly rose Friday as traders tried to track a Wall Street rally ahead of crucial US jobs data, while Tokyo took a hit from an extended yen rally on bets Japan will drop its ultra-loose monetary policy.

IDX Composite rebounded 0.67 percent to close at 7,134.62 on Thursday as November's forex reserves reached US$138.1 billion.