Indonesia Equities Extend Gains on S&P Affirmation, Fiscal Lift

2026-07-14 02:48 By Farida Husna 1 min. read

Indonesian shares rose 38 points or 0.6% to 6,074 in early trade on Tuesday, building gains from the prior session amid strength in energy, cyclicals, and infrastructure.

Sentiment was lifted by S&P’s affirmation of Indonesia’s BBB/A-2 rating with a stable outlook, noting that risks from high energy prices, interest rates, rupiah weakness, and policy uncertainty could be offset by commodity revenues, spending restraint, and stronger resource-sector reforms.

Fiscal data also lent support, with mid-year state revenue reaching 46.3% of target, up 21.4% yoy.

However, upside was capped by a sharp drop in U.S.

futures after Wall Street fell overnight, pressured by President Trump’s vow to reinstate a blockade on Iranian shipping through the Strait of Hormuz.

Caution lingered ahead of China’s June trade data later today, followed by activity readings and Q2 GDP on Wednesday.

Standout movers included Energi Mega Persada (10.8%), Indika Energy (8.1%), Kalbe Farma (2.1%), and Bukit Asam (1.2%).



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