Indonesia Shares Eye First Weekly Rise in Three

2026-05-08 02:52 By Farida Husna 1 min. read

Indonesian equities edged down 12 points or 0.1% to 7,167 in early Friday trade, snapping a three-session strength after an overnight retreat on Wall Street amid renewed U.S.–Iran hostilities that rattled a fragile ceasefire.

Locally, investor sentiment was clouded by caution ahead of April foreign reserves data due later today, after March figures slipped to near a two-year low amid persistently weak rupiah.

Traders also vigilantly braced for several data releases from the central bank next week, including April consumer confidence and retail sales.

Losses were led by basic materials, property, and non-cyclicals, with notable drags from Merdeka Copper Gold (-4.1%), Elang Mahkota Teknologi (-3.1%), Pertamina Geothermal (-2.9%), and Hartadinata Abadi (-2.4%).

Still, the market is on track for its first weekly gain in three, up about 2.4% so far, boosted by bargain hunting, resilient Q1 economic output, and mild inflation despite higher non-subsidized fuel prices.



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Indonesia Shares Eye First Weekly Rise in Three
Indonesian equities edged down 12 points or 0.1% to 7,167 in early Friday trade, snapping a three-session strength after an overnight retreat on Wall Street amid renewed U.S.–Iran hostilities that rattled a fragile ceasefire. Locally, investor sentiment was clouded by caution ahead of April foreign reserves data due later today, after March figures slipped to near a two-year low amid persistently weak rupiah. Traders also vigilantly braced for several data releases from the central bank next week, including April consumer confidence and retail sales. Losses were led by basic materials, property, and non-cyclicals, with notable drags from Merdeka Copper Gold (-4.1%), Elang Mahkota Teknologi (-3.1%), Pertamina Geothermal (-2.9%), and Hartadinata Abadi (-2.4%). Still, the market is on track for its first weekly gain in three, up about 2.4% so far, boosted by bargain hunting, resilient Q1 economic output, and mild inflation despite higher non-subsidized fuel prices.
2026-05-08
Indonesia Stocks Rally on Wall Street Strength, Rupiah Measures
Indonesia’s IDX Composite surged 79 points or 1.1% to 7,171 in Thursday morning trade, rising for a fourth straight session to its highest in over a week. Record Wall Street closes overnight buoyed sentiment as Washington and Tehran weighed a new proposal to end the Middle East war, with the U.S. tabling a one-page memorandum of understanding and Iran expected to respond in the coming days. Locally, President Prabowo approved seven new Bank Indonesia measures to bolster the rupiah, as the currency remains under pressure and policymakers prioritise exchange-rate stability amid global volatility. However, further gains were restrained by mounting concerns over rising fuel costs in sectors such as airlines, prompting calls to lift fare caps. Gains were broad-based, led by basic materials, cyclicals, and energy. Early standouts included Indofood CBP Sukses (3.7%), Kalbe Farma (3.5%), Aneka Tambang (2.6%), Indosat (2.3%), and Mitra Adiperkasa (2.0%).
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Indonesian Equities Rise for Third Session
Indonesian shares advanced 37 points or 0.5% to 7,094 in early Wednesday trade, extending gains for a third session after record closes on Wall Street’s S&P 500 and Nasdaq, lifted by U.S. President Donald Trump’s pause in efforts to reopen the Strait of Hormuz to allow time for a deal with Iran. Locally, Indonesia's GDP grew 5.61% yoy in Q1 2026, beating market forecasts and marking the fastest yearly expansion since 2022, boosted by festive-season demand, government spending on the Free Nutritious Meal Program, and a favorable low base. However, strength was tempered by a smaller trade surplus in March, reflecting sharp declines in coal and coffee exports. Meanwhile, the rupiah's weakness persisted, adding pressure to the economy. All sectors moved higher, led by basic materials, non-cyclicals, and industrials. Top movers included J Resources Asia Pacific (11.8%), TBS Energy Utama (8.6%), Unilever Indonesia (5.5%), and Energi Mega Persada (4.6%).
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