Indonesian Shares Trade Lower After Recent Rally
Indonesian stocks fell 0.3% to 6,077 in Monday morning trade, easing after a prior rally as infrastructure, financials, and transport weighed. Sentiment turned cautious after U.S. President Donald Trump said he may join Saudi Arabia in retaliating against Tehran-backed Houthis following a deadly attack on Riyadh’s main airport over the weekend. Traders also vigilantly awaited CPI/PPI and trade data from main trading partner China due later this week as activity resumed after a major break. Locally, inflation risks stayed in focus after September figures hit a three-month high, with food prices expected to remain a key driver through year-end. Still, losses were limited by August retail sales, which posted their fastest growth in five months amid government measures to cushion households against cost pressures. Notable laggards included Gojek Tokopedia (-6.7%), XL Smart Telecom (-3.4%), Mitra Adiperkasa (-2.3%), and Indika Energy (-2.2%).
3% to 6,077 in Monday morning trade, easing after a prior rally as infrastructure, financials, and transport weighed. S. President Donald Trump said he may join Saudi Arabia in retaliating against Tehran-backed Houthis following a deadly attack on Riyadh’s main airport over the weekend. Traders also vigilantly awaited CPI/PPI and trade data from main trading partner China due later this week as activity resumed after a major break.
Locally, inflation risks stayed in focus after September figures hit a three-month high, with food prices expected to remain a key driver through year-end. Still, losses were limited by August retail sales, which posted their fastest growth in five months amid government measures to cushion households against cost pressures. 2%).