Indonesia's stock market experienced a rebound in early trading on Thursday, climbing approximately 73 points or 0.8% to reach 9,084. This recovery partially offset the previous day's 1.4% decline, as investors seized on opportunities for bargain buying. The market sentiment brightened following Bank Indonesia's decision to maintain its benchmark interest rate at 4.75% for the fourth consecutive month, aligning with expectations. This decision highlights the institution's commitment to stabilizing the rupiah, while relying on macroprudential and liquidity measures.
Globally, Wall Street saw gains overnight as alleviated trade tensions, initiated by U.S. President Trump's move to retract tariff threats against Europe and dispel rumors of forcibly acquiring Greenland, provided a boost. Nonetheless, the market's strength was somewhat tempered by President Prabowo’s action to revoke forest exploitation permits for 28 companies in Sumatra, citing regulatory breaches in areas affected by flooding.
Sectoral gains were widespread, with strength seen particularly in infrastructure, cyclical stocks, and energy sectors. Outstanding performances were noted for companies such as Telkom Indonesia, which rose by 4.2%, Astra International by 2.7%, Alamtri Resources by 1.8%, and United Tractors by 1.4%.
