Indonesian shares climbed 51 points, or 0.8%, to 6,319 in early Wednesday trade, snapping a two-session losing streak amid broad-based gains across major sectors, led by infrastructure, energy, basic materials, and cyclical stocks. Sentiment improved after fresh data showed July car sales jumped 33%, signaling a potential recovery in the automotive industry.
Investors also reacted to President Prabowo’s decision to nominate acting BI Governor Destry Damayanti as the sole candidate to replace Perry Warjiyo, a move widely viewed as supportive of policy continuity. However, the market’s upside was capped by overnight weakness on Wall Street and caution ahead of MSCI’s August 2026 Review later today, with index rebalancing set to take effect after August 31.
Domestic headwinds persisted as well, with retail sales declining for a third consecutive month in June, pressured by softness in discretionary spending. Among notable movers, Indosat rose 8.4%, Petrindo Jaya Kreasi gained 5.6%, Bumi Resources advanced 2.8%, and Japfa Comfeed added 1.8%.
