Indonesian Shares Reverse Early Losses on Trade Data Surprises

Indonesian shares climbed 44 points, or 0.9%, to 5,113 on Monday afternoon, reversing early losses as sentiment improved amid stronger U.S. stock futures and falling oil prices following reports of renewed U.S.-Iran diplomatic efforts to ease Middle East tensions. Traders also anticipate further corporate earnings, U.S. jobs data, and the upcoming midterm elections. Locally, sentiment was supported by a stronger-than-expected September trade surplus, as exports grew more than forecast while imports unexpectedly slowed. Meanwhile, the Indonesian bourse officially implemented a major reform, excluding 81 stocks classified as having High Shareholding Concentration from benchmark index calculations. The measure was fast-tracked in response to warnings from MSCI over potential market reclassification. Most sectors advanced, led by basic materials, energy, and infrastructure. Top movers included Darma Henwa (10.3%), Bumi Resources (9.2%), Indika Energy (8.4%), and Merdeka Battery (6.7%).