Indonesian Equities Trade Slightly Higher

Indonesian stocks edged up 19 points or 0.3% to 6,371 in early deals on Thursday, extending gains for the third straight session. The move tracked firmer U.S. equity futures amid upbeat earnings and renewed optimism over artificial intelligence, even as Wall Street had closed mostly lower overnight. Domestic sentiment was supported by stronger-than-expected Q2 annual GDP growth, with the economy expanding 5.29% yoy, slightly slower than Q1’s 5.61% but still above forecasts, bringing the first-half growth to 5.45%. Foreign investors added support, recording net purchases of IDR 1.62 trillion in July, reversing months of sustained outflows. The upside, however, was tempered by caution ahead of July forex reserves data and trade figures from top trading partner China, both due Friday. Gains were led by transport, basic materials, and financials, with notable movers including Hartadinata Abadi (6.0%), Petrindo Jaya Kreasi (3.7%), Charoen Pokphand (1.6%), and Bank Tabungan Negara (1.4%).

Indonesia’s IDX Composite rose 33 points or 0.5% to 6,351 in Wednesday morning trade, extending the prior session’s gain as U.S. stock futures firmed after a continued rally on Wall Street overnight that pushed the broad market to a record high, lifted by upbeat earnings and speculation of a U.S.–Iran accord to reopen the Strait of Hormuz. Locally, July’s softer headline inflation offered near-term relief amid volatile food costs and seasonal pressure from back-to-school spending. Clarity on the rare-earth export ban also helped, with nickel, tin, and other commodities containing trace elements allowed to resume shipments. Gains, however, were capped by caution ahead of Q2 GDP data due later today, with growth expected to ease from Q1’s 5.6% yoy pace, while July trade figures in top trading partner China loom later this week. Property, basic materials, and energy led the strength, with Timah Tbk up 3.9%, followed by Aneka Tambang (3.5%), Agung Podomoro (2.4%), and Indika Energy (1.2%).

Indonesian shares added 16 points or 0.3% to 6,251 in early trade on Tuesday, reversing a subdued session the day before as most sectors advanced, notably property, basic materials, and non-cyclicals. Sentiment was supported by stronger U.S. stock futures following an overnight rally on Wall Street that pushed the Dow Jones to a record high, aided by lower oil prices and sharp gains in major tech stocks. Locally, July annual inflation eased to a three-month low of 2.88% as food supplies improved despite El Niño risks. Meanwhile, manufacturing showed tentative recovery with July PMI at a five-month high. Gains, however, were capped by a second consecutive month of trade deficit in June, with imports outpacing exports. Caution also lingered ahead of Q2 GDP data, due on Wednesday, as markets expected slower growth after last quarter’s 5.6% surge. Leading performers included Merdeka Copper Gold (5.1%), Vale Indonesia (1.9%), Indosat (1.6%), and Bank Negara Indonesia (1.2%).