The Indonesia stock market ended a six-day losing streak, with the Jakarta Composite Index rising 6.63 points to close at 6,983.87. Global markets showed cautious optimism, influenced by a positive lead from Wall Street, where major indices rebounded after a mid-week sell-off. Oil futures also settled higher, reflecting eased concerns over interest rate cuts following slower-than-expected inflation data.
Indonesia plans to cancel up to $550 million in bad debts for small businesses to stimulate lending and economic growth. The government is set to introduce a regulation allowing state-owned banks, including PT Bank Mandiri and PT Bank Rakyat Indonesia, to forgive troubled loans totaling as much as 8.7 trillion rupiah. Discussions are ongoing regarding which types of loans will be eligible for forgiveness.
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