Sector Losses Drag IDX Lower Amid Tariff Concerns

Indonesia’s IDX Composite slipped 26 points, or 0.3%, to 8,369 in Tuesday morning trade, reversing the prior session’s rally as broad sector losses weighed, led by energy, cyclicals, and industrials. Sentiment was dampened by Wall Street’s sharp overnight drop, fueled by persistent concerns over AI-related disruptions and fresh volatility from President Trump’s erratic trade statements. Meantime, President Prabowo has directed officials to assess the impact of the U.S. Supreme Court’s tariff ruling, adding to caution ahead of key domestic data due next week, including February inflation and January trade figures. Still, losses were contained by reports that China, Indonesia’s largest trading partner, kept lending rates at record lows for a ninth straight month in February to support growth, as mainland markets reopened after a recent break. Early laggards included Impack Pratama Industri (-4.5%), Bukit Uluwatu Villa (-4.1%), Bumi Resources (-2.7%), and Alamtri Minerals (-2.4%).

Indonesian equities climbed 80 points, or near 1%, to 8,348 in early Monday trade, rebounding from a muted prior close. Sentiment improved on hopes that President Trump’s new 15% global tariff, introduced after the U.S. Supreme Court rejected sweeping reciprocal duties, signals a shift toward lower overall levies and could provide a modest boost to Indonesia’s exports in the near term. Market confidence also strengthened after the local regulator last week imposed IDR 11.05 billion in fines on one firm and three individuals for alleged market manipulation between 2016 and 2022. In top trading partner China, trading will resume on Tuesday after the Lunar New Year break. However, a sharp drop in U.S. futures capped momentum, following Wall Street’s consumer-led gains Friday. All sectors in IDX contributed to the rally, led by basic materials, financials, and cyclicals. Early movers included MD Entertainment (3.7%), Unilever Indonesia (3.6%), Kalbe Farma (2.4%), and Chandra Asri (2.2%).

Indonesia’s IDX Composite was little changed on Friday morning, hovering around 8,281 after closing lower the day before. Gains in infrastructure and industrials nearly offset falls in healthcare and property. Traders digested the central bank’s decision Thursday to keep its key rate steady for a fifth straight meeting, underscoring its focus on rupiah stability and inflation control. Investors also tracked President Prabowo’s attendance at the Board of Peace summit, ahead of a planned signing of a trade deal with the U.S. On the business front, Jakarta has agreed to extend Freeport’s mining permits until 2041, ensuring legal certainty for operations in the Grasberg district. Weekly, markets are heading for a second straight gain, up about 0.8%, lifted by fiscal policy aimed at stability and growth. Notable movers included XLSmart Telecom (2.1%) and United Tractors (2.0%), while Hanjaya Mandala Sampurna (-3.2%), Sinar Mas Multiartha (-2.3%), and Indah Kiat Pulp & Paper (-1.9%) lagged.