Indonesia Equities Rise After 2-Day Losses
The IDX Composite rose 28 points (0.3%) to 8,392, ending a two-day decline, supported by a modest rise in U.S. futures and positive news from China regarding infrastructure investments. Indonesia's retail sales increased for the fifth month in a row, aided by government measures. However, investor caution persisted ahead of U.S. inflation data and ongoing foreign outflows. Key sectors like communications and industrial services saw gains, with Jhonlin Agro Raya leading at +12.9%.
The IDX Composite rose 28 points or 0.3% to 8,392 on Wednesday, snapping a two-session losing streak amid a modest rise in U.S. futures following a mixed Wall Street session, as Congress appeared close to ending the shutdown.
Sentiment was also supported by news that China, Indonesia’s top trading partner, unveiled new measures to boost private participation in infrastructure and energy projects, including nuclear and hydropower.
Domestically, Indonesia’s retail sales grew for the fifth consecutive month in September, with the pace of growth accelerating thanks to government efforts to sustain household purchasing power.
However, gains were limited by investor caution ahead of key U.S. inflation data later this week and continued foreign outflows from banking heavyweights.
Communications, industrial services, and process industries led the advance, with notable gainers including Jhonlin Agro Raya (up 12.9%), Pradiksi Gunatama (9.9%), Gudang Garam (3.0%), and Barito Pacific (2.8%).
