Indonesian equities advanced 43 points, or 0.7%, to 6,135 in Thursday morning trade, snapping a six-session losing streak as U.S. equity futures firmed following an overnight sell-off on Wall Street driven by persistent U.S. inflation concerns. The Federal Reserve left interest rates unchanged for a seventh consecutive meeting, though three of the 12 voting members dissented in favor of a hike.
On the domestic front, President Prabowo ordered enhanced El Niño preparedness to mitigate drought and forest fire risks while shoring up energy security and industrial resilience. Upside in the market was tempered by lingering uncertainty over the next central bank governor, regional fiscal pressures, and ongoing bottlenecks in mineral exports.
Traders are also positioning ahead of key domestic releases next week, including July inflation, May trade data, and Q2 GDP figures. Gains were broad-based across all sectors, led by basic materials, cyclicals, energy, and property. Among early outperformers were Vale Indonesia (up 7.8%), Bumi Resources Minerals (4.3%), Archi Indonesia (3.8%), and Indika Energy (3.5%).
