Indonesia’s IDX Composite inched up to 6,168 in Monday morning trading, extending gains from the previous session as U.S. stock futures climbed on the back of easing oil prices, after President Trump signaled progress in talks with Iran. Trump also indicated he wants Kevin Warsh to independently lead the Federal Reserve, following recent turbulence at the U.S. central bank.
On the domestic front, Bank Indonesia raised interest rates aggressively last week, underscoring its priority of stabilizing the rupiah. Upside in equities was limited, however, by a sharply wider current account deficit in Q1, driven by a shrinking trade surplus and weaker global demand. Sentiment was further pressured by President Prabowo’s move to set up a centralized export agency, which has fueled concerns over rising costs for listed companies.
Sector-wise, transport, cyclical stocks, and property led the advance, while energy and basic materials lagged. Notable gainers included Surya Citra Media (+4.5%), Bank Rakyat Indonesia (+3.0%), Bukit Asam (+2.6%), and United Tractors (+1.5%).
