Indonesia’s IDX Composite advanced 54 points, or 0.7%, to 8,083 in Tuesday morning trade, extending its gains for a second consecutive session. The rise was broad-based, led by strength in basic materials, energy, and property stocks. Sentiment was supported by Wall Street, where the Dow Jones closed at a record high overnight as technology shares rebounded from their recent sell-off.
Domestically, confidence was underpinned by improving consumer sentiment, which climbed to a 12-month high in January ahead of the Lunar New Year and Ramadan holidays. Motorbike sales also provided a positive signal, rising 3.1% year-on-year and reaching their highest level in three months.
Upside momentum was limited, however, after Moody’s revised its outlook on five major Indonesian banks to negative, following the downgrade of the country’s sovereign rating outlook. On the monetary policy front, Thomas Djiwandono was sworn in as deputy governor of Bank Indonesia for the 2026–2031 term, replacing Juda Agung in what amounts to a direct role swap with the finance ministry.
Among notable movers were Merdeka Battery Materials, which gained 6.9%; Merdeka Gold Resources, up 3.0%; Chandra Daya Investasi, rising 2.4%; and Telkom Indonesia, which added 1.8%.
