Indonesian Shares Up for 5th Session

Indonesia’s IDX Composite jumped 80 points, or 1.5%, to 5,153 in Tuesday morning trade, extending gains for a fifth session to a near two-week top. Stronger U.S. equity futures buoyed sentiment, following an overnight Wall Street rally, as tech stocks rebounded and oil prices eased after President Trump said further strikes on Iran would not be necessary despite the U.S. remaining “locked and loaded. Locally, foreign investors returned Monday with a total purchase of IDR 104.08 billion across all markets. Meanwhile, consumer mood hit a five-month high in October, lifted by continued government stimulus measures. However, gains were capped by caution ahead of anticipated student-led protests later in the day. September retail sales data were also due later in the day, following solid growth in August. All sectors advanced, led by basic materials, industrials, property and energy. Petrosea (15.3%), Timah (5.7%), Bakrie & Brothers (5.2%) and Kalbe Farma (4.0%) were among top gainers.

Indonesian shares rose 41 points, or 0.8%, to 5,088 in early trade on Monday, extending gains for a fourth session amid stronger U.S. stock futures ahead of key inflation data and major AI company earnings this week. Sentiment was also lifted by fresh data showing October forex reserves hit a seven-month high. Meanwhile, Q3 GDP growth accelerated to 5.47% yoy, beating expectations on resilient private consumption and solid manufacturing. However, gains were limited by caution ahead of MSCI’s November index review, with its final decision on Indonesia’s market status expected by June 2027 at the latest. Political tensions also remained elevated following a wiretapping scandal involving several senior police officers, with students and other groups expected to stage protests later this week. All sectors gained, led by energy, cyclicals, basic materials, and infrastructure. Among early standouts were Solusi Sinergi Digital (7.6%), Telkom Indonesia (4.0%), and Aneka Tambang (3.0%).

Indonesia’s IDX Composite plunged 91 points, or 1.8%, to 4,939 in Friday morning trade, reversing gains from the prior two sessions after a tech rout on Wall Street overnight amid concerns about the profitability of heavy AI investment after the U.S. midterms. Local markets are heading into a second straight weekly fall, down 2.4% so far, and hovering near a six-year low, reflecting fiscal concerns over higher oil prices and the Prabowo administration’s hefty spending commitments, continued foreign capital outflows, and rupiah volatility. All major sectors slid, led by basic materials, infrastructure, energy, and cyclicals. Japfa Comfeed dipped 6.9%, followed by Barito Pacific (-6.6%) and Darma Henwa (-6.1%). Still, losses were partly limited by stronger-than-expected Q3 GDP growth, reinforcing optimism that the 2026 growth target of around 5.4% remains within reach. Meanwhile, authorities enacted sanctions over alleged stock market violations after MSCI warned of a possible downgrade.