23.04.202602:43:50UTC+00Indonesia Stocks Drop for Fourth Session

Indonesian shares edged lower in early Thursday trade, hovering around 7,520 and extending losses into a fourth consecutive session. Risk appetite weakened after U.S. equity futures retreated sharply, following reports that the U.S. blockade of Iranian ports remained in place and that Iran had seized two ships in the Strait of Hormuz, despite President Trump’s ceasefire extension.

Domestically, recent increases in non-subsidized fuel prices continued to pressure households, particularly the middle class, with the prospect of further hikes if global oil prices rise. Losses on the market, however, were limited after Bank Indonesia kept its benchmark interest rate unchanged at 4.75% for a seventh straight month, prioritizing support for the rupiah amid ongoing capital outflows.

On the fiscal front, the government announced plans to issue panda bonds in China while turning down loan offers from the IMF and World Bank. Basic materials and energy stocks led the declines, with notable laggards including Barito Renewables Energy (-4.6%), TBS Energi Utama (-2.3%), Panin Financial (-2.2%), and Bukit Uluwatu Villa (-1.5%).