Indonesian shares climbed 120 points, or 1.6%, to 7,697 in Thursday’s morning session, snapping a three-day losing streak as bargain hunters moved in after the market hit a one-month low in the previous session amid mounting tensions in the Middle East. Sentiment was buoyed by news from China, Indonesia’s largest trading partner, which unveiled a broad economic roadmap and set a 2026 growth target of 4.5%–5%, after meeting its 2025 goal of “around 5%.”
On the domestic front, Bank Indonesia reiterated its commitment to continued intervention to support the rupiah in the face of rising global risk aversion, while authorities considered possible fuel price adjustments following the closure of the Strait of Hormuz. Upside was limited, however, by investor caution ahead of Friday’s release of February foreign exchange reserve data.
Gains were broad-based, led by industrial, property, and infrastructure stocks. Notable outperformers included Merdeka Battery Materials (+7.0%), Surya Citra Media (+6.0%), Unilever Indonesia (+4.9%), and Mitra Adiperkasa (+3.5%).
