Indonesia’s IDX Composite climbed 55 points, or 0.8%, to 7,159 in early Wednesday trading, extending gains into a second consecutive session as markets reopened following the week-long Eid holiday. Risk sentiment improved in line with a rally in U.S. futures, after reports that Washington had submitted a 15-point ceasefire proposal to Iran seeking a one-month halt in hostilities.
On the domestic front, Finance Minister Purbaya Yudhi Sadewa reiterated that Indonesia will adhere to its 3% budget-deficit ceiling, emphasizing that contingency measures would only be considered in the event of a major crisis. Upside in equities was tempered, however, by persistent concerns that the government could raise fuel prices after the festive period to counter rising global oil costs.
Investors now turn their attention to a series of key local data releases due next week, including March inflation and February trade figures. Most sectors traded higher, led by energy, industrials, and cyclical names. Notable early gainers included Amman Mineral Internasional (up 6.7%), Astra International (5.6%), Barito Renewables Energy (3.5%), and Telkom Indonesia (4.3%).
