Indonesia Stocks Retreat, Geopolitical Risks and Local Data in Focus

Indonesia’s IDX Composite slipped 58 points, or 0.7%, to 8,268 in early Thursday trade, erasing prior-session gains and mirroring weakness in U.S. futures amid persistent concerns over U.S.–Iran tensions. Sentiment was further weighed by caution ahead of key domestic releases next week, including February inflation and January trade data. Meanwhile, authorities are reportedly monitoring labor conditions after reports of mass layoffs in the key manufacturing sector in East Java, ahead of the festive season. Still, losses were partly cushioned by news that Eid-ul-Fitr allowances for civil servants have been finalized and await presidential approval, a measure expected to bolster seasonal consumption and travel. All sectors traded lower, with transport, healthcare, and basic materials under pressure. Notable laggards included Merdeka Copper Gold (-6.8%), Semen Gresik (-2.6%), Medco Energi (-2.3%), and Surya Citra Media (-1.4%).

Indonesian stocks advanced 47 points, or 0.6%, to 8,328 in Wednesday’s morning session, rebounding from a steep loss the day before on the back of Wall Street’s overnight strength amid renewed optimism in the AI sector ahead of U.S. President Trump’s State of the Union address. Meanwhile, local media reported that the Finance Ministry will extend liquidity injections to banks for another six months, with central bank support, to safeguard financial stability as Eid al-Fitr celebration approaches. In key trading partner China, the PBoC kept loan prime rates at record lows for a ninth straight month to bolster growth. Gains in Jakarta were capped, however, by caution ahead of domestic data releases next week, including February inflation and January trade figures. Healthcare, basic materials, and cyclicals strengthened, but technology and energy lagged. Early movers included Alamtri Minerals (5.0%), Vale Indonesia (4.3%), Indosat (3.4%), Mitra Adiperkasa (1.7%), and Aneka Tambang (1.4%).

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%).