Indonesian stocks fell 46 points, or 0.9%, dropping back below the 5,000 mark in Wednesday morning trading, extending earlier declines and reaching their lowest level since early September 2020. Sentiment weakened ahead of Thursday’s release of Q3 GDP data, with year-on-year growth expected to slow further amid elevated interest rates and persistent inflationary pressures.
Adding to the cautious mood, Finance Minister Suahasil Nazara projected 2026 GDP growth at 5.4%–5.5%, down from a previous forecast of 5.6%–6%. Political risks also intensified after authorities detained three senior police officials, including former national police chief Listyo Sigit, over alleged illegal wiretapping targeting President Prabowo and other high-profile figures.
Losses were partly contained after Bank Indonesia said its currency market interventions had been effective in supporting the rupiah. Most sectors declined, led by basic materials, consumer cyclicals, and energy. Notable losers included Barito Pacific (-6.7%), Hartadinata Abadi (-5.9%), Medco Energi (-3.1%), and Astra International (-1.5%).
