Indonesia Stocks Under Pressure After Export Controls

2026-05-21 03:26 By Farida Husna 1 min. read

Indonesian shares tumbled 136 points or 2.2% to 6,185 in early Thursday trade, extending losses for an eighth straight session and lingering at their weakest level in 13 months.

A Wall Street rally overnight failed to lift sentiment as investors shunned risk after President Prabowo tightened export rules on key commodities, including palm oil, coal, and ferroalloys, mandating shipments through a single state-owned exporter.

Caution also mounted ahead of the Q1 current account data due Friday, following a Q4 deficit driven by a wider oil gap.

Still, losses were capped by Bank Indonesia’s 50bps hike to 5.25% on Wednesday, aimed at stabilizing the rupiah after repeated record lows since April.

The government, meanwhile, projected 2027 growth at 5.8% to 6.5%, keeping its 8% target for 2029.

Declines were broad, led by transport, energy, and industrials, with Barito Pacific (-9.9%), Medco Energi (-8.7%), Darma Henwa (-7.7%), and Amman Mineral Intl.

(-5.7%) among the steepest laggards.



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Indonesia Stocks Under Pressure After Export Controls
Indonesian shares tumbled 136 points or 2.2% to 6,185 in early Thursday trade, extending losses for an eighth straight session and lingering at their weakest level in 13 months. A Wall Street rally overnight failed to lift sentiment as investors shunned risk after President Prabowo tightened export rules on key commodities, including palm oil, coal, and ferroalloys, mandating shipments through a single state-owned exporter. Caution also mounted ahead of the Q1 current account data due Friday, following a Q4 deficit driven by a wider oil gap. Still, losses were capped by Bank Indonesia’s 50bps hike to 5.25% on Wednesday, aimed at stabilizing the rupiah after repeated record lows since April. The government, meanwhile, projected 2027 growth at 5.8% to 6.5%, keeping its 8% target for 2029. Declines were broad, led by transport, energy, and industrials, with Barito Pacific (-9.9%), Medco Energi (-8.7%), Darma Henwa (-7.7%), and Amman Mineral Intl. (-5.7%) among the steepest laggards.
2026-05-21
Indonesia Shares Recover from 13-Month Low
Indonesia’s IDX Composite climbed 54 points or 0.9% to 6,429 in Wednesday morning trade, snapping a six-session slide as bargain hunters stepped in after the benchmark hit a 13-month low the day before. Meanwhile, President Prabowo is set to present the 2027 budget framework to parliament later today, while the finance ministry reportedly plans daily IDR 2 trillion injections into the bond market to stabilize the rupiah, curb outflows, and ease volatility. Bank Indonesia, under pressure as the currency hovers near repeated historic lows, signaled a tilt toward pro-stability policy ahead of its meeting conclusion today. Gains were tempered by inflation risks from higher oil prices, despite April inflation staying mild. Meanwhile, U.S. stock futures weakened as Treasury yields climbed while tensions between Washington and Tehran lingered. Standout movers included Japfa Comfeed (4.4%), Timah (3.4%), Telkom Indonesia (3.2%), and Dian Swastatika Sentosa (2.7%).
2026-05-20
Indonesia Equities Fall for 6th Session
Indonesia’s benchmark index slipped 31 points, or 0.5%, to 6,570 in Tuesday morning trade, extending losses for a sixth straight session and hovering near its weakest level since mid-2025. Sentiment was pressured by a retreat in U.S. equity futures, even as reports suggested President Trump postponed a planned strike on Iran. Locally, caution mounted as Bank Indonesia kicked off a two-day policy meeting, with expectations the board will lift rates to 5% after holding steady at 4.75% since last October. Political debate also flared after President Prabowo remarked that villagers are unaffected by rupiah weakness because they do not use U.S. dollars, drawing criticism over the government’s economic sensitivity. Sectoral losses were led by energy, non-cyclicals, and property, though gains in healthcare and cyclicals helped cap declines. Major laggards included Chandra Asri Pacific (-11.2%), Sumber Global Energy (-5.4%), Hartadinata Abadi (-4.2%), and Raharja Energi Cepu (-3.4%).
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