Indonesian shares fell 27 points, or 0.4%, to 6,487 in Monday morning trade, extending losses from the previous session. Sentiment was pressured by a sharp decline in U.S. futures after hawkish remarks by Fed Chair Kevin Warsh at Jackson Hole increased the odds of a September rate hike, while oil prices jumped following U.S. strikes on Iranian rocket launchers over the weekend.
On the domestic front, investors remained cautious ahead of key data releases this week, including August inflation and July trade figures. However, the downside was partly limited by news that the House of Representatives had approved Destry Damayanti as the next governor of Bank Indonesia for the 2026–2031 term, succeeding Perry Warjiyo, who resigned in July.
Sector-wise, basic materials, healthcare, and infrastructure led the declines, with notable laggards including Hartadinata Abadi (-4.7%), Merdeka Copper Gold (-3.0%), and Aneka Tambang (-1.6%). Despite the weak start to the week, the market remains on track for a second consecutive monthly gain, up nearly 4% so far, supported by ongoing bargain hunting after the index hit a six-year low in June.
