Indonesian stocks climbed 56 points, or 0.9%, to 6,180 on Tuesday, the first trading day of June, rebounding after two consecutive sessions of losses as markets reopened following the holiday. Sentiment was buoyed by Wall Street’s fresh record highs overnight, driven by optimism over a possible peaceful resolution to the Iran conflict and strong enthusiasm for Nvidia’s new laptop chip.
On the domestic front, investors reacted positively to the government’s commitment to transparency in a newly established state-owned exporter of key commodities. The new entity is expected to strengthen tax collection, keep a larger share of export earnings onshore, and improve dollar liquidity after the rupiah repeatedly hit lows earlier this year.
Upside, however, was limited by investor caution ahead of May inflation figures and April trade data, both scheduled for release later in the day. Sector-wise, energy, cyclicals, and industrials led the gains, while transport, non-cyclicals, and healthcare underperformed. Notable movers included Dian Swastatika Sentosa (+25.0%), Sumber Alfaria Trijaya (+10.4%), Medco Energi (+6.6%), and Raharja Energi Cepu (+3.8%).
