Indonesia Stocks Trade Modestly Higher

Indonesia’s IDX Composite added 25 points, or 0.4%, to 6,064 on Wednesday morning, reversing a muted prior session. Sentiment was lifted by a modest rise in U.S. stock futures, as cooler-than-expected inflation data sharply reduced the odds of a July rate hike. Locally, optimism grew after the government plans to ease nickel production quotas, a move seen as encouraging foreign inflows into downstream-focused miners. On the business side, PT Freeport Indonesia projected a USD 2.6 billion contribution to state coffers in 2026 through taxes, royalties, and dividends. However, gains were capped by weak GDP figures in China, with Q2 growth the slowest in 3-1/2 years, underscoring an uneven recovery in Indonesia’s top trading partner. Meanwhile, geopolitical tensions remained in focus after fresh U.S. strikes on Tehran and Washington’s reinstatement of a naval blockade near the Strait of Hormuz. Among notable gainers were Aneka Tambang (3.8%), Darma Henwa (2.2%), and Bank Mandiri (1.2%).

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%).

Indonesian stocks rose 40 points or 0.7% to 5,962 on Monday morning, marking the second straight session of gains amid strength in cyclicals, infrastructure, basic materials, and energy. Sentiment was buoyed by reports of resilient investment momentum across strategic sectors in special economic zones. Meanwhile, fiscal stability was underscored by a primary balance surplus of IDR 85.1 trillion in H1 2026, keeping the budget comfortably within prudent limits. However, upside was tempered as U.S. equity futures slumped on renewed Middle East tensions, adding caution ahead of earnings season. Caution also emerged ahead of key data later this week from the main trading partner, China, including the June trade balance and Q2 GDP. Locally, governance risks remained in focus as anti-corruption enforcement intensified. Among early standouts were Barito Pacific (4.3%), ESSA Industries (3.5%), Pertamina Geothermal Energy 1.5%), and United Tractors (1.4%).