FX.co ★ Indonesia Stocks Trade Slightly Lower

Indonesia's IDX Composite experienced a decline of 27 points, or 0.3%, settling at 8,367 during Tuesday's early trading, following a subdued end to the previous session. The fall was primarily driven by profit-taking in the utilities, consumer non-durables, and consumer services sectors, after reaching an intraday record high on Monday. Concurrently, labor unrest emerged as Indonesian trade unions opposed the proposed 2026 provincial minimum wage formula, voicing concerns about inadequate consultation with workers. In corporate developments, Jakarta has confirmed plans for a merger between tech powerhouse GojekTokopedia and regional ride-hailing company Grab, sparking debates over increased competition and regulatory implications. Some relief was found in the market following the U.S. Senate's passage of a bill to conclude the nation's longest government shutdown. On the economic data front, retail sales in Indonesia saw a boost in September, registering a growth of 3.7% year-on-year, up from the previous 3.5% increase. Among the notable companies experiencing declines were Jaya Sukses Makmur Sentosa, which fell by 6.8%, Hanjaya Mandala Sampoerna with a 2.9% drop, and Tower Bersama Infrastructure declining by 2.3%.