FX.co ★ Stocks in Indonesia Remain Near 4-Year Low

The IDX Composite in Indonesia experienced a decline of 6 points, or 0.1%, reaching 5,990 by mid-day on Wednesday. This figure is close to the lowest point observed in almost four years, touched just the previous day, amidst intensifying trade tensions following the implementation of President Trump's newly imposed tariffs of 104% on Chinese imports. Market participants continued to assess the repercussions of Trump's 32% trade tariff targeting Indonesian exports, coinciding with the government's initiatives to explore new export opportunities. In the preceding year, Indonesian exports to the United States, which is the third most significant market for Indonesia, amounted to USD 26.3 billion. Additionally, caution was heightened after data released on Tuesday indicated a budget deficit of 0.43% of GDP for the first quarter of the year. Sectors such as utilities, consumer services, and industrial services exerted considerable downward pressure on the index. Among the most significant decliners were Indofood (-5.6%), Semen Indonesia (-5.3%), Vale Indonesia (-3.4%), Unilever Indonesia (-2.1%), and Adaro Energy (-1.2%).