FX.co ★ Indonesia Stocks Slip Into the Red

The IDX Composite index in Indonesia fell by 35 points, or 0.4%, reaching 8,610 during Tuesday's morning trading session. This decline wiped out the gains achieved in the previous session, primarily due to losses in the healthcare, financial, and property sectors. Despite this, traders exercised caution given the trading week was abbreviated because of the upcoming Christmas holiday, with market closures scheduled for Thursday and Friday. Investors are also bracing for announcements concerning minimum wages in several provinces. This comes amidst opposition from labor unions and business groups regarding the government’s proposed wage formula for 2026, which they argue lacks adequate consultation and does not align with current economic conditions. Meanwhile, an overnight surge on Wall Street helped to limit the IDX's decline, fueled by the tech sector's rebound amid renewed optimism for AI-related stocks. Among the most significant decliners were Mitra Adiperkasa (-1.7%), Bayan Resources (-1.7%), Bumi Resources (-1.5%), Bank BNI (-1.4%), Bank Central Asia (-1.2%), and Bank Mandiri (-1.0%).