Indonesia Shares Retreat for 3rd Session

Indonesia’s IDX Composite slipped 39 points, or 0.5%, to 6,949 in Tuesday morning trade, marking a third consecutive decline as U.S. futures notably weakened after President Donald Trump signaled strikes on Iran could escalate as soon as today. Investor caution also grew ahead of key inflation data in the U.S. and top trading partner China later this week. Domestically, the 2026 state budget posted a deficit of IDR 240.1 trillion, equal to 0.93% of GDP in Q1, wider than last year as spending outpaced revenue. Still, losses were partly contained by the government’s pledge to maintain subsidized fuel prices and keep the deficit within safe bounds this year, assuming oil prices average USD 100 per barrel. Most sectors were lower, dragged by industrials, basic materials, and cyclicals. Notable laggards included Aneka Tambang (-4.1%), Astra International (-2.9%), Telkom Indonesia (-2.8%), Bumi Resources (-2.5%), and Perusahaan Gas Negara (-1.4%).

Indonesian shares fell 50 points, or 0.7%, to 6,975 in early Monday trade, extending prior-session losses amid a drop in U.S. futures after President Trump threatened strikes on Iran’s power plants and bridges if Tuesday, 00:00 GMT, does not reopen the strategic waterway. Investors also weighed news that Danantara’s sovereign wealth fund unit signed deals on April 1 to acquire investment management arms of state-owned banks Mandiri, BRI, and BNI, along with PT Permodalan Nasional Madani, for IDR 2.7 trillion, pending approval. On the data front, manufacturing momentum weakened in March, with PMI readings near stagnation as demand softened, while February’s trade surplus narrowed on slowing exports and elevated imports. Sectoral weakness was led by non-cyclicals, property, and healthcare, partly offset by gains in cyclicals, industrials, and energy. Notable decliners included GojekTokopedia (-3.8%), Merdeka Copper Gold (-2.5%), Charoen Pokphand (-1.6%), and Aneka Tambang (-1.4%).

Indonesia’s IDX Composite fell 79 points, or 1.1%, to 7,105 in the Thursday morning session, reversing the prior day’s rally as U.S. futures slumped after President Trump signaled further military strikes against Iran. In a national address, Trump framed the war as an “investment in the future” and suggested operations could conclude within a month. Locally, February’s trade surplus narrowed as exports remained subdued while imports grew at a double-digit pace. Nearly all sectors declined, dragged by industrials, infrastructure, basic materials, and energy. Still, losses were cushioned by softer inflation. Headline CPI eased to 3.48% in March, back within the central bank’s target, while core inflation also fell, pointing to weaker demand. Notable laggards included Barito Pacific (-4.1%), Vale Indonesia (-3.9%), Bumi Resources (-3.4%), and Pertamina Geothermal (-2.4%). Weekly, local markets stabilize after losses in the prior five periods. The IDX will close tomorrow for Good Friday.