Indonesian stocks jumped 73 points or 1.2% to 6,405 in early deals on Thursday, marking a five-week peak and setting the stage for a bull market from their early June low. Sentiment improved as Bank Indonesia held its key rate steady at 5.75%, pausing after a total of 100 bps of hikes since May, while launching fresh incentives to lure foreign inflows. On the fiscal side, the government trimmed its free school meals budget to IDR 229 trillion from IDR 268 trillion, with Finance Minister Purbaya Yudhi hinting defense spending may also be pared back to prioritise poverty reduction. However, gains were capped by weaker U.S. futures and higher oil prices, after President Trump threatened strikes on Iranian infrastructure in response to potential shipping attacks in the Strait of Hormuz. All major sectors advanced, led by tech, energy, basic materials, and non-cyclicals. Standout movers included Darma Henwa (8.6%), Petrosea (6.4%), Erajaya Swasembada (5.0%), and Raharja Energi Cepu (4.9%).