Indonesian Shares Extend Slide Before BI Rate Decision
Indonesian stocks slipped 0.3% to 6,261 in early Wednesday trade, hovering near 6,264 and extending losses for a fourth straight session to their weakest level in six weeks. Sentiment was pressured by FTSE Russell’s move to upgrade Vietnam to emerging-market status from frontier, spurring a rebalancing of regional flows. Caution also built ahead of Bank Indonesia’s policy decision later today, even as markets expect the benchmark rates to remain unchanged for a third month. Still, a further drop in oil prices eased inflation worries, reflecting progress in U.S.—Iran diplomatic talks. President Prabowo meanwhile hailed the government’s completion of IDR 218 trillion in bond repayments to Bank Indonesia, closing obligations dating back to the 1997—98 Asian financial crisis. Losses were led by financials, tech, and property, with notable decliners Mitra Adiperkasa (-2.7%), Indosat (-2.1%), Alamtri Resources (-1.9%), and Indo Tambangraya Megah (-1.4%).
3% to 6,261 in early Wednesday trade, hovering near 6,264 and extending losses for a fourth straight session to their weakest level in six weeks. Sentiment was pressured by FTSE Russell’s move to upgrade Vietnam to emerging-market status from frontier, spurring a rebalancing of regional flows. Caution also built ahead of Bank Indonesia’s policy decision later today, even as markets expect the benchmark rates to remain unchanged for a third month. —Iran diplomatic talks.
President Prabowo meanwhile hailed the government’s completion of IDR 218 trillion in bond repayments to Bank Indonesia, closing obligations dating back to the 1997—98 Asian financial crisis. 4%).