Indonesian Shares Rise for 3rd Session

Indonesian stocks rose 31 points or 0.5% to 6,152 in early Tuesday trading, extending gains for a third session as U.S. equity futures firmed on Wall Street’s AI optimism and buyout activity despite rising Treasury yields. Locally, the government is boosting social safety-net disbursements to support household purchasing power toward the end of the year. Regionally, markets in main trading partner China will reopen Thursday after the Golden Week break. However, caution ahead of key domestic releases this week, including September forex reserves and consumer sentiment, capped gains. Meanwhile, food inflation stayed elevated as harvest disruptions from severe weather, El Niño, and localised disasters lingered. Most sectors were higher, led by tech, energy, and transport. Gojek Tokopedia jumped 6.9%, followed by Bank Jago (3.9%), Medco Energi (1.8%), and Bank Tabungan Negara (1.4%). In contrast, Hartadinata Abadi (-1.4%), Mitra Adiperkasa (-1.3%), and Telkom Indonesia (-0.9%) lagged.

Indonesian shares rose 32 points, or 0.5%, to 6,070 in Monday’s morning session, building on gains from the prior session as softer U.S. jobs data lifted futures and eased pressure on the Fed to keep tightening. Bargain hunters continued to step in after local markets hit their lowest since mid-July. However, caution lingered ahead of key domestic releases this week, including September forex reserves, consumer sentiment, and August retail sales. Meanwhile, concerns persisted over Indonesia’s external vulnerabilities despite August’s trade surplus, with inflation risks growing after September CPI accelerated to 3.28%, edging closer to Bank Indonesia’s upper target band of 3-1/2%. In main trading partner China, markets remained shut for the Golden Week holiday, capping trading cues. Gains were broad across industry, transport, cyclicals, and basic materials. Early standouts included Rukun Raharja (7.8%), Kawasan Industri Jababeka (3.3%), Summarecon Agung (2.6%), and Jasa Marga (2.0%).

Indonesian stocks slipped 27 points, or 0.5%, to 5,984 in Friday’s early trade, marking a sixth straight decline and hovering near their lowest since mid-July, as selling hit tech, transport, and infrastructure. Caution lingered ahead of key domestic data next week, including September forex reserves, consumer confidence, and August retail sales. With Chinese markets shut for Golden Week, local sentiment lacked external cues, though stronger U.S. stock futures helped cap losses after Wall Street ended little changed overnight. Among notable laggards were Solusi Sinergi Digital (-9.3%), Sumber Alfaria Trijaya (-2.3%), and Amman Mineral (-2.1%). The index is on track for a fourth weekly drop, down nearly 4% so far, dragged by a weak rupiah and inflation worries after September headline inflation accelerated to a three-month high, driven by food costs under El Niño. Elevated crude oil prices added risks for Indonesia, a net oil importer, by raising import costs and fiscal strain.