Indonesian shares rose 46 points, or 0.5%, to 8,693 in early Friday trade, kicking off the new year on a positive note. Markets gained for a third session, as most sectors advanced, led by industrial services, logistics, and consumer durables. Sentiment was lifted after China, Indonesia’s top trading partner, signaled economic growth of about 5% in 2025, though President Xi Jinping described the year as challenging. Strength was capped, however, by fresh PMI data showing December factory activity in Indonesia slowed after November's nine-month peak. Meantime, Finance Minister Purbaya acknowledged that the IDR 200 trillion liquidity injection to state banks recently has underdelivered. Early movers included Japfa Comfeed (6.1%), Medco Energy (3.0%), XLSmart (1.6%), and Indah Kiat (1.5%). Local stocks in 2025 surged 22%, the strongest annual gain since 2014, owing to strength in conglomerate shares, dovish central bank policy, and government efforts to counter global and local pressures.