Indonesia’s IDX Composite surged 79 points or 1.1% to 7,171 in Thursday morning trade, rising for a fourth straight session to its highest in over a week. Record Wall Street closes overnight buoyed sentiment as Washington and Tehran weighed a new proposal to end the Middle East war, with the U.S. tabling a one-page memorandum of understanding and Iran expected to respond in the coming days. Locally, President Prabowo approved seven new Bank Indonesia measures to bolster the rupiah, as the currency remains under pressure and policymakers prioritise exchange-rate stability amid global volatility. However, further gains were restrained by mounting concerns over rising fuel costs in sectors such as airlines, prompting calls to lift fare caps. Gains were broad-based, led by basic materials, cyclicals, and energy. Early standouts included Indofood CBP Sukses (3.7%), Kalbe Farma (3.5%), Aneka Tambang (2.6%), Indosat (2.3%), and Mitra Adiperkasa (2.0%).