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Indonesia’s IDX Composite fell 82 points, or 1.3%, to 6,113 in early Wednesday trade, wiping out the previous session’s gains as losses swept across most sectors, led by basic materials, infrastructure, and transportation. Sentiment weakened after May inflation picked up and April’s trade surplus narrowed sharply, highlighting mounting pressure on household purchasing power and external stability. Concerns over rupiah weakness persisted, with banks reportedly selling U.S. dollars above IDR 18,000, while an inverted government bond yield curve pointed to rising investor caution about the economic outlook.
External factors also weighed on the market, as U.S. stock futures traded mostly lower amid fragile U.S.–Iran negotiations and ahead of the release of the May U.S. jobs report. However, the decline in the IDX Composite was partially limited by signs of resilience in China, Indonesia’s largest trading partner, where services activity remained robust in May and manufacturing output continued to expand. Among the notable laggards were Amman Mineral Intl. (-8.5%), Merdeka Copper Gold (-5.3%), and Japfa Comfeed (-4.6%).
