Indonesian Stocks on Course for Fifth Weekly Rise

Indonesian shares rose 33 points, or 0.5%, to 6,377 in Friday morning trade, rebounding from a modest dip in the prior session amid sectoral gains led by energy, property, and infrastructure. The advance was tempered, however, by softer U.S. stock futures ahead of the July jobs report, while geopolitical risks lingered after Iran reportedly sought to restrict U.S. and Israeli vessels from transiting Hormuz and impose compensation demands on nations it deems hostile. Caution also grew ahead of July trade data in top trading partner China later today, with expectations of weaker exports and imports due to weather disruptions. Early standouts included Indosat (6.8%), Mitra Keluarga (4.7%), and Bumi Resources (2.8%). For the week, markets remain on track for a fifth straight gain, lifted by buying interest linked to governance reforms under President Prabowo’s flagship program. Meanwhile, July headline inflation hit a three-month low, reinforcing views that cost pressures are contained.

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%).