Indonesia’s IDX Composite fell 53 points, or 0.6%, to 7,406 on Monday, snapping a three-day winning streak as U.S. equity futures declined. Risk sentiment deteriorated after President Trump said the U.S. Navy would blockade the Strait of Hormuz following unsuccessful talks with Iran, raising the risk of renewed tensions after a fragile two-week ceasefire.
On the domestic front, the rupiah weakened toward 17,000 amid ongoing capital outflows and elevated global yields, while March foreign-exchange reserves dropped to USD 148.2 billion, the lowest level since July 2024. Investors also adopted a cautious stance ahead of February retail sales data due later in the day, following January’s indication of resilient household consumption.
Downside pressure was partly offset by continued confidence in Indonesia’s fiscal discipline, with ongoing revenue mobilization and spending prioritization expected to keep the fiscal stance manageable. Sector-wise, financials, infrastructure, and healthcare led the declines. Notable underperformers included Sumber Global Energy (-2.6%), Astra International (-2.0%), Bank Tabungan Negara (-1.9%), and XL Smart Telecom (-1.6%).
