Indonesian Stocks Slip Amid Political Uncertainty

2026-11-11 02:46 By Farida Husna 1 min. read

Indonesian shares fell 0.2% to 5,115 in Wednesday morning trade, snapping a five-session winning streak as losses in basic materials and infrastructure weighed on sentiment.

The market retreated from a near two-week high amid political uncertainty after VP Gibran Rakabuming Raka met President Prabowo and expressed his intention to resign, following two court rulings on his education credentials.

Traders also assessed regulatory changes as the bourse expanded its high-share-holding-concentration watchlist from 83 to 383 stocks.

Overnight, Wall Street ended mostly lower after strong U.S.

inflation data lifted bets of further Fed rate hikes.

In main trading partner China, trade surplus topped $1 trillion in the first ten months of 2026, supported by strong high-tech exports amid the AI hardware boom, helping offset weak domestic demand.

Among notable laggards, Indo Tambangraya Megah fell 4.1%, followed by Merdeka Copper Gold (-3.6%), Archi Indonesia (-3.4%), and Indika Energy (-2.4%).



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Indonesian Stocks Slip Amid Political Uncertainty
Indonesian shares fell 0.2% to 5,115 in Wednesday morning trade, snapping a five-session winning streak as losses in basic materials and infrastructure weighed on sentiment. The market retreated from a near two-week high amid political uncertainty after VP Gibran Rakabuming Raka met President Prabowo and expressed his intention to resign, following two court rulings on his education credentials. Traders also assessed regulatory changes as the bourse expanded its high-share-holding-concentration watchlist from 83 to 383 stocks. Overnight, Wall Street ended mostly lower after strong U.S. inflation data lifted bets of further Fed rate hikes. In main trading partner China, trade surplus topped $1 trillion in the first ten months of 2026, supported by strong high-tech exports amid the AI hardware boom, helping offset weak domestic demand. Among notable laggards, Indo Tambangraya Megah fell 4.1%, followed by Merdeka Copper Gold (-3.6%), Archi Indonesia (-3.4%), and Indika Energy (-2.4%).
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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.
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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%).
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