Indonesian shares fell 46 points, or 0.9%, to 5,223 in Wednesday morning trade, declining for a third consecutive session amid broad-based selling across non-cyclicals, energy, and transport stocks. Sentiment weakened as U.S. stock futures traded mostly lower ahead of the Federal Reserve’s rate decision later today and quarterly results from major technology companies.
On the domestic front, persistent rupiah weakness, concerns over foreign fund outflows, and rising inflation risks continued to dampen risk appetite. Pressure on the state budget also remained a key worry as global oil prices hovered above USD 100 per barrel. However, the market’s losses were partly limited by FTSE Russell’s decision to maintain Indonesia’s classification as an emerging market.
The government, meanwhile, said fuel supplies remained sufficient for both subsidised and non-subsidised products. In China, one of Indonesia’s main trading partners, industrial profits were broadly resilient in January–September despite softness in some sectors.
Among the session’s notable laggards were Barito Pacific (-5.3%), Indosat (-5.0%), and Indofood Sukses Makmur (-3.8%).
