Asian stocks edge higher as investors look to Trump-Xi summit; rupiah down

The Indonesian rupiah fell as much as 0.6%. It has recovered more than 2% from the record low hit in June, but remains among the region's weakest currencies this year.

Markets are looking for clues on Bank Indonesia's interest rate outlook as policymakers balance currency stability with efforts to support economic growth.

Perry Warjiyo's unexpected resignation as BI chief in July spooked investors. However, the appointment of senior deputy governor Destry Damayanti as the central bank's first female chief has helped reassure markets and supported a modest recovery in the rupiah.

"Rupiah is the outlier, remaining under pressure as traders expect BI to keep its policy rate unchanged this week," said Leong.

"This comes amid rising global bond yields and expectations that major central banks could keep rates higher for longer, limiting support for the rupiah."