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Jakarta. Indonesian stocks extended gains in early Tuesday trading, with the Jakarta Composite Index (JCI) rising 47 points, or 0.73%, to 6,448 as investors assessed President Prabowo Subianto's latest economic and investment achievements. The index moved in the 6,448-6,458 range in early trading. Data from RTI showed 757.5 million shares had changed hands, with trading value reaching Rp 403.61 billion ($22.62 million) across 72,424 transactions. A total of 277 stocks advanced, while 159 declined and 250 remained unchanged. Phintraco Sekuritas said Prabowo's state-of-the-nation address last Friday highlighted several developments that could support domestic equities, including investment realization of Rp 1,010 trillion in the first half of 2026. The government also created more than 1.4 million jobs, while the economy grew 5.45% year-on-year in the first half. The government is targeting 6% economic growth for the full year. "This could potentially become a positive factor for the banking, consumer, industrial and construction sectors if investment creates a multiplier effect on consumption and credit," Phintraco Sekuritas said. Prabowo also said Indonesia had achieved self-sufficiency in rice, corn, consumer sugar, chicken meat, eggs, shallots, large chilies and bird's eye chilies. "This is a positive sentiment for the poultry, plantation, fertilizer and food processing sectors," Phintraco Sekuritas said. Indonesia also stopped importing diesel fuel from July 1, 2026, supported by its B50 biodiesel program, according to the president. The policy is expected to save around Rp 170 trillion in foreign exchange annually and could boost domestic demand for crude palm oil, Phintraco said. On state-owned enterprises, Prabowo said the government aims to limit the number of state-owned companies to a maximum of 300 by the end of 2026, with more than 750 entities set to be shut down after being deemed unproductive. The restructuring is estimated to generate around Rp 50 trillion in annual overhead savings, which will be redirected toward investment, industrialization, public services and the broader public interest. "Dividends from state-owned companies for fiscal year 2026 are projected at Rp 200 trillion without additional state capital injections," Phintraco Sekuritas said. Meanwhile, global market sentiment remained negative, Kiwoom Sekuritas Indonesia said, as oil prices resumed their climb amid a lack of meaningful progress toward resolving the Middle East conflict. More moderate US inflation data for July, combined with relatively weak labor and retail sales data, have led markets to see room for the Federal Reserve to keep interest rates unchanged in September. The probability of rates remaining unchanged stood at around 67%, while the chance of a 25-basis-point hike fell to about 33%. Wall Street closed lower on Monday as investors took a breather following a record-setting week. The S&P 500 fell 0.52% to 7,745, the Nasdaq Composite declined 0.32% to 26,644, and the Dow Jones Industrial Average dropped 0.51% to 53,459. In regional trading as of 9:12 a.m. Jakarta time, Japan's Nikkei fell 1.16%, while South Korea's Kospi gained 0.97%. Hong Kong's Hang Seng declined 0.63%, and Shanghai's SSE slipped 0.09%.

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