Indonesian Shares Rebound as Wall Street Gains Lift Sentiment
Indonesian stocks rose 28 points, or 0.5%, to 5,402 in early trade on Tuesday, partly recovering from a sharp 1.2% drop in the previous session. Sentiment improved as U.S. equity futures strengthened following an overnight Wall Street rise, after Anthropic’s IPO filing revived AI enthusiasm ahead of major tech earnings and the Federal Reserve’s upcoming rate decision. Domestically, the government assured that fuel supplies remained adequate, with subsidised fuel stocks sufficient for 16—18 days and other fuel inventories above minimum requirements. The remarks eased concerns that rising oil prices could strain fiscal conditions. However, gains were capped by continued rupiah weakness and inflation concerns amid persistently high food prices. Advances were broad-based, led by basic materials, energy, industrials, and consumer cyclicals. Top performers included Chandra Asri (6.2%), Bukit Uluwatu Villa (5.9%), Bank Syariah Indonesia (5.2%), and Rukun Raharja (4.2%).
Indonesian stocks rose 28 points, or 0.5%, to 5,402 in early trade on Tuesday, partly recovering from a sharp 1.2% drop in the previous session. Sentiment improved as U.S. equity futures strengthened following an overnight Wall Street rise, after Anthropic’s IPO filing revived AI enthusiasm ahead of major tech earnings and the Federal Reserve’s upcoming rate decision. Domestically, the government assured that fuel supplies remained adequate, with subsidised fuel stocks sufficient for 16—18 days and other fuel inventories above minimum requirements.
The remarks eased concerns that rising oil prices could strain fiscal conditions. However, gains were capped by continued rupiah weakness and inflation concerns amid persistently high food prices. Advances were broad-based, led by basic materials, energy, industrials, and consumer cyclicals. Top performers included Chandra Asri (6.2%), Bukit Uluwatu Villa (5.9%), Bank Syariah Indonesia (5.2%), and Rukun Raharja (4.2%).