FX.co ★ Indonesia Equities Turn Lower

Indonesian stocks retreated by 39 points, or 0.4%, to 8,565 during Thursday morning's trading session, undoing the gains achieved previously. The decline was primarily driven by setbacks in the healthcare, energy minerals, and utilities sectors. Investor sentiment was cautious ahead of the forthcoming release of November's Manufacturing PMI and crucial official figures, including data on November's inflation and October's trade performance. In terms of policy, it was reported that Jakarta postponed the announcement of the 2026 minimum wage due to ongoing regulatory revisions. On the international front, sentiment was overshadowed by data from China, a key trading partner, revealing a 5.5% year-on-year drop in industrial profits for October—the first decline in three months—indicating subdued demand and ongoing price pressure challenges. However, the overall losses were somewhat mitigated by robust performances in the energy and telecommunications sectors, as investors geared up for potential end-of-year catalysts. Significant decliners included Bumi Resources, down by 5.4%, Gojek Tokopedia, decreasing by 3.1%, Bank Permata, which fell by 2.8%, and Telkom Indonesia, dropping by 2.2%.