Indonesian Shares Drop for 3rd Session
Indonesia’s IDX Composite fell 30 points, or 0.4%, to 6,354 in Tuesday morning trading, down for a third session as traders remained cautious ahead of Bank Indonesia’s policy decision. The central bank began its two-day meeting today amid renewed pressure on the rupiah and persistent price pressures. Meanwhile, lawmakers debated revisions to the 2003 Law that could allow higher budget deficits to fund social and welfare programs. Finance Minister Suahasil Nazara said any deliberations over the statutory 3% of GDP deficit ceiling should proceed constructively. Losses were partly capped by strong gains on Wall Street overnight, driven by optimism over Meta Platforms’ new AI agent. Easing Middle East supply concerns also offered some support as diplomatic efforts to end the U.S.-Iran conflict resumed. Bukit Asam (-2.3%), Bank Rakyat Indonesia (-1.8%), and Perusahaan Gas Negara (-1.3%) lagged. In contrast, Medco Energi (4.4%), Amman Minerals (3.4%), and Charoen Pokphand (2.3%) advanced.
4%, to 6,354 in Tuesday morning trading, down for a third session as traders remained cautious ahead of Bank Indonesia’s policy decision. The central bank began its two-day meeting today amid renewed pressure on the rupiah and persistent price pressures. Meanwhile, lawmakers debated revisions to the 2003 Law that could allow higher budget deficits to fund social and welfare programs. Finance Minister Suahasil Nazara said any deliberations over the statutory 3% of GDP deficit ceiling should proceed constructively.
Losses were partly capped by strong gains on Wall Street overnight, driven by optimism over Meta Platforms’ new AI agent. -Iran conflict resumed. 3%) lagged. 3%) advanced.