Indonesian shares slipped 50 points, or 0.7%, to 6,975 in early Monday trade, extending the previous session’s losses amid a decline in U.S. futures, after President Trump threatened strikes on Iran’s power plants and bridges if the strategic waterway is not reopened by Tuesday, 00:00 GMT. Sentiment was also affected by news that a unit of Danantara’s sovereign wealth fund signed agreements on April 1 to acquire the investment management businesses of state-owned banks Mandiri, BRI, and BNI, as well as PT Permodalan Nasional Madani, for IDR 2.7 trillion, pending regulatory approval.
On the data front, manufacturing momentum softened in March, with PMI readings hovering near stagnation as demand weakened, while February’s trade surplus narrowed amid slower exports and still-elevated imports. Sectoral losses were led by non-cyclicals, property, and healthcare, partially offset by gains in cyclicals, industrials, and energy. Notable decliners included GojekTokopedia (-3.8%), Merdeka Copper Gold (-2.5%), Charoen Pokphand (-1.6%), and Aneka Tambang (-1.4%).
