Indonesia shares slip 0.4% Monday as U.S. futures and oil surge weigh
Indonesian shares fell 27 points, or 0.4%, to 6,487 in Monday morning trade. Losses were cushioned by House approval of Destry Damayanti as Bank Indonesia governor for 2026–2031, while investors awaited August inflation and July trade data.
Indonesian shares fell 27 points, or 0.4%, to 6,487 in Monday morning trade, extending weakness from the prior session.
A sharp drop in U.S. futures weighed on sentiment after Fed Chair Kevin Warsh’s hawkish Jackson Hole remarks lifted odds of a September hike, while oil prices surged following U.S. strikes on Iranian rocket launchers over the weekend.
Locally, caution persisted ahead of key releases this week, including August inflation and July trade data.
Still, losses were cushioned by news that the House of Representatives approved Destry Damayanti as Bank Indonesia’s new governor for 2026—2031, succeeding Perry Warjiyo, who resigned in July.
Basic materials, health, and infrastructure led the decline, with notable laggards including Hartadinata Abadi (-4.7%), Merdeka Copper Gold (-3.0%), and Aneka Tambang (-1.6%).
Still, markets are heading for the second straight monthly gain, up near 4%, lifted by continued bargain hunting after markets hit their lowest in six years in June.