Indonesian equities edged 19 points, or 0.3%, higher to 6,371 in early trade on Thursday, extending gains for a third consecutive session. The advance tracked stronger U.S. equity futures, supported by upbeat corporate earnings and renewed optimism around artificial intelligence, even as Wall Street had closed mostly lower overnight.
Domestically, sentiment was underpinned by stronger-than-expected Q2 GDP data, with the economy expanding 5.29% year-on-year. While this marked a slight moderation from Q1’s 5.61%, it exceeded forecasts and lifted first-half growth to 5.45%. Foreign investors also lent support, posting net purchases of IDR 1.62 trillion in July and thereby reversing several months of persistent outflows.
Upside momentum was capped by caution ahead of Friday’s releases of July foreign exchange reserve figures and trade data from China, Indonesia’s largest trading partner. Sector-wise, gains were led by transport, basic materials, and financials. Notable movers included Hartadinata Abadi (+6.0%), Petrindo Jaya Kreasi (+3.7%), Charoen Pokphand (+1.6%), and Bank Tabungan Negara (+1.4%).
