Indonesian shares fell 94 points, or 1.3%, to 6,064 in Tuesday morning trade, marking a fourth straight session of losses and the lowest level since late July. Sentiment deteriorated as U.S. stock futures tracked overnight declines on Wall Street, with Treasury yields holding near multiyear highs amid renewed Middle East tensions that revived inflation concerns and the risk of further interest rate hikes.
On the domestic front, higher oil prices pressured the fiscal outlook and dampened risk appetite, while newly implemented trading rules—allowing shares on both regular and cash markets to fall to as low as IDR 1 as part of broader exchange reforms—further weighed on confidence. Investors also remained cautious ahead of the release of August trade data and September inflation figures later this week.
In addition, markets were bracing for September PMI readings from both official and private surveys in China, Indonesia’s key trading partner. Selling was broad-based across all sectors, led by technology, cyclicals, transport, and energy. Notable decliners included Gojek Tokopedia (-14.0%), Petrindo Jaya Kreasi (-7.1%), Adaro Andalan (-6.5%), and Darma Henwa (-5.1%).
