Indonesian Shares Dip Below 5,000 Mark Ahead of GDP Data

Indonesian stocks fell 46 points, or 0.9%, to below the 5,000 mark in Wednesday morning trade, extending prior losses and hitting their lowest since early September 2020. Sentiment weakened further ahead of Q3 GDP data due Thursday, with growth expected to slow further yoy amid elevated interest rates and persistent price pressures. Meanwhile, Finance Minister Suahasil Nazara projected 2026 growth of 5.4%—5.5%, below previous forecast of 5.6%—6%. Political uncertainty also intensified after authorities detained three senior police figures, including former chief Listyo Sigit, over alleged illegal wiretapping targeting President Prabowo and other prominent figures. Still, losses were capped by Bank Indonesia's remarks that currency interventions had been effective in supporting the rupiah. Most sectors fell, led by basic materials, consumer cyclicals, and energy. Major losers included Barito Pacific (-6.7%), Hartadinata Abadi (-5.9%), Medco Energi (-3.1%), and Astra Intl. (-1.5%).