Indonesian Equities Dip for 3rd Session
Indonesian shares fell 46 points, or 0.9%, to 5,223 in Wednesday morning trade, down for a third session amid broad selling across non-cyclicals, energy, and transport. Sentiment weakened as U.S. stock futures were mainly lower ahead of the Fed’s rate decision later today and earnings from major tech companies. Locally, persistent rupiah weakness, foreign fund outflow concerns, and inflation risks continued to weigh on risk appetite. Pressure on the state budget also remained a concern as oil prices hovered above USD 100 per barrel. However, losses were partly capped by FTSE Russell’s decision to retain Indonesia’s emerging-market status. Meanwhile, the government said that fuel supplies remained adequate for both subsidised and non-subsidised products. In China, a key trading partner, industrial profits stayed resilient in January-September despite weakness in some sectors. Among the biggest laggards were Barito Pacific (-5.3%), Indosat (-5.0%), and Indofood Sukses Makmur (-3.8%).
Indonesian shares fell 46 points, or 0.9%, to 5,223 in Wednesday morning trade, down for a third session amid broad selling across non-cyclicals, energy, and transport. Sentiment weakened as U.S. stock futures were mainly lower ahead of the Fed’s rate decision later today and earnings from major tech companies. Locally, persistent rupiah weakness, foreign fund outflow concerns, and inflation risks continued to weigh on risk appetite.
Pressure on the state budget also remained a concern as oil prices hovered above USD 100 per barrel. However, losses were partly capped by FTSE Russell’s decision to retain Indonesia’s emerging-market status. Meanwhile, the government said that fuel supplies remained adequate for both subsidised and non-subsidised products. In China, a key trading partner, industrial profits stayed resilient in January-September despite weakness in some sectors.
Among the biggest laggards were Barito Pacific (-5.3%), Indosat (-5.0%), and Indofood Sukses Makmur (-3.8%).