Indonesian Shares Rise Yet Face Third Weekly Decline
Indonesian equities added 25 points, or 0.4%, to 6,325 in Friday’s morning session, clawing back ground after a sharp drop the day before as tech, cyclicals, and energy led gains. Sentiment steadied after U.S. Treasury Secretary Scott Bessent confirmed Washington and Beijing agreed to extend their trade truce through January 10, 2027. President Trump is hosting a state dinner for Chinese leader Xi Jinping, who made his first Washington visit in over a decade, with both leaders underscoring AI as a key discussion point. Early movers included Sumber Alfaria Trijaya (2.3%), Indo Tambangraya Megah (2.0%), and Surya Citra Media (1.7%). However, local markets are on track for a third straight weekly decline, down nearly 2% so far, pressured by concerns over elevated oil prices and their fiscal impact. Caution also grew ahead of next week’s August trade data and September inflation. Annual inflation accelerated to 3.19% in August, driven by steeper food costs linked to El Niño effects.
4%, to 6,325 in Friday’s morning session, clawing back ground after a sharp drop the day before as tech, cyclicals, and energy led gains. S. Treasury Secretary Scott Bessent confirmed Washington and Beijing agreed to extend their trade truce through January 10, 2027. President Trump is hosting a state dinner for Chinese leader Xi Jinping, who made his first Washington visit in over a decade, with both leaders underscoring AI as a key discussion point.
7%). However, local markets are on track for a third straight weekly decline, down nearly 2% so far, pressured by concerns over elevated oil prices and their fiscal impact. Caution also grew ahead of next week’s August trade data and September inflation. 19% in August, driven by steeper food costs linked to El Niño effects.