Indonesian Shares Snap Losing Streak, Monthly Slide Looms

Indonesia’s IDX Composite climbed 63 points, or 1.0%, to 6,184 in early Wednesday trade, halting weakness in the prior four sessions as U.S. stock futures firmed ahead of a key inflation print that could shape the Fed’s rate path. Momentum was also lifted by stronger activity in top trading partner China, as manufacturing and services accelerated in September, particularly in tech and consumer industries. Locally, Finance Minister Suahasil Nazara told lawmakers the state budget was designed with prudence and credibility to buffer the economy against persistent global uncertainty, further bolstering sentiment. Gains were broad-based, led by industrials, basic materials, energy, and infrastructure. Standouts included Rukun Raharja (6.1%), Sentul City (5.5%), and United Tractors (5.4%). Despite the upturn, the market is on track for its first monthly drop in three months, down about 5.4% so far, weighed by inflation concerns, rupiah weakness, and the fiscal strain of higher oil prices.

Indonesian shares tumbled 94 points, or 1.3%, to 6,064 in Tuesday morning trade, extending declines for a fourth session to their lowest level since late July. Sentiment weakened as U.S. stock futures fell after Wall Street’s overnight drop, with Treasury yields hovering at multiyear highs amid renewed Middle East tensions that stoked inflation fears and prospects of further rate hikes. Locally, higher oil prices weighed on fiscal outlook and risk appetite, compounded by new trading rules allowing shares on regular and cash markets to fall to as low as IDR 1 under broader exchange reforms. Caution also lingered ahead of August trade and September inflation data due later this week. In key trading partner China, September PMI readings from both official sources and private surveys also loom. All sectors retreated, led by tech, cyclicals, transport, and energy. Major laggards included Gojek Tokopedia (-14.0%), Petrindo Jaya Kreasi (-7.1%), Adaro Andalan (-6.5%), and Darma Henwa (-5.1%).

Indonesia’s IDX Composite slipped 41 points, or 0.7%, to 6,203 in early Monday trading, marking a third decline as sentiment weakened amid a sharp drop in U.S. stock futures after oil prices jumped. The move followed President Trump’s rejection of Iran’s conditional offer to reopen the Strait of Hormuz, while reports said he expected U.S. strikes to resume after the November midterms. Locally, the Indonesia Stock Exchange scrapped its long-standing Rp50 minimum share-price floor, allowing shares on the regular and cash markets to trade as low as IDR 1 from Monday. Concerns also lingered over elevated oil costs and their potential fiscal impact, while caution prevailed ahead of trade and inflation figures. Losses were broad-based, led by tech, cyclicals, and infrastructure. Limiting the fall, China’s industrial profits continued to rise in the first eight months, albeit at a slower pace. Notable laggards included Gojek Tokopedia (-14.0%), Indosat (-2.6%), and Hartadinata Abadi (-1.3%).