Indonesia’s IDX Composite dropped 114 points, or 1.4%, to 8,118 on Monday, the first trading day of March, following a subdued previous session. Selling pressure was broad-based, with cyclical, infrastructure, property, and industrial shares among the main laggards. Sentiment weakened after U.S. equity futures retreated in the wake of President Trump’s vow to continue military operations in Iran, following the deaths of three U.S. service members.
Investors also adopted a cautious stance ahead of key domestic releases due later in the day, including February inflation and trade data, while lingering concerns persisted that China’s upcoming PMI readings could show holiday-related softness. Still, losses were partially offset by expectations of fiscal expansion through social assistance and other programs during Ramadan and Eid al-Fitr.
Heavyweights under pressure included Vale Indonesia (-5.1%), Unilever Indonesia (-3.8%), Charoen Pokphand (-3.5%), Kalbe Farma (-3.2%), and Bank Mandiri (-2.4%). By contrast, energy names outperformed sharply, led by Medco Energi (+8.7%), Adaro Andalan Indonesia (+8.1%), and Aneka Tambang (+4.4%).
