Indonesia Stocks Rise But Face Steep Monthly Drop

Indonesia’s IDX Composite advanced 50 points or 0.8% to 6,179 in Friday morning trade, reversing the prior session’s weakness and setting up the first weekly gain in six weeks as markets reopened after the holiday. Sentiment was buoyed by Wall Street’s overnight rise and reports that the U.S. and Iran had agreed to extend their ceasefire and ease shipping restrictions, though President Donald Trump has yet to sign off and Iranian media said the deal was not finalized. Gains were led by basic materials, energy, and infrastructure, offset by softness in non-cyclicals and property. Standout movers included Petrindo Jaya Kreasi (25%), Alamtri Minerals (5.6%), Darma Henwa (3.6%), XLSmart Telecom (2.5%), and Elang Mahkota Teknologi (1.5%). However, markets remain on track for a fifth consecutive monthly decline, down about 11% so far, pressured by the rupiah’s record lows, fiscal strains, and persistent capital outflows.

Indonesian equities rose 25 points, or 0.4%, to 6,230 in early Tuesday trade, marking a third straight advance as U.S. futures rallied after President Donald Trump said Monday that Iran talks were “proceeding nicely,” though he warned Washington could act offensively if they collapse. Domestically, monetary policy is tilting toward rupiah stability and market confidence, with Bank Indonesia last week raising interest rates by 50bps to 5.25%, its first hike since October. The government also reportedly delayed royalty and export-duty changes to safeguard downstream competitiveness amid weaker global demand conditions and rising uncertainty. Gains were led by basic materials, infrastructure, and energy, while non-cyclicals, financials, and property lagged. Standouts included Barito Pacific (10.8%), Rukun Raharja (4.6%), Harum Energy (3.2%), and Indo Tambangraya Megah (2.2%). Markets will pause on Wednesday and Thursday for public holidays.

Indonesia’s IDX Composite edged up to 6,168 in Monday morning trade, extending gains from the prior session as U.S. stock futures jumped on easing oil prices after President Trump signaled progress in Iran talks. Trump also said he wants Kevin Warsh to independently lead the Fed following the recent shakeup at the U.S. central bank. Locally, Bank Indonesia last week raised borrowing costs aggressively, underscoring its focus on rupiah stabilization. Gains, however, were capped by a sharply wider Q1 current account deficit, reflecting a narrowing trade surplus and softer global demand. Concerns also mounted after President Prabowo moved to establish a centralized export agency, raising fears of higher costs for listed firms. Transport, cyclicals, and property led advances, though energy and basic materials weighed. Notable movers included Surya Citra Media (4.5%), Bank Rakyat Indonesia (3.0%), Bukit Asam (2.6%), and United Tractors (1.5%).