09.09.202602:54:19UTC+00Indonesian Equities Retreat After Tuesday Rally

Indonesian shares fell 34 points, or 0.5%, to 6,652 in Wednesday morning trade, snapping the previous session’s rally as weakness in technology, non-cyclical, and financial stocks weighed on sentiment. Investors remained cautious ahead of August consumer confidence data due later today, following July’s reading, which hit a 15‑month low. Attention is also turning to July retail sales figures, scheduled for release on Thursday, after June data showed a third consecutive monthly decline.

Globally, U.S. equity futures were mixed after Wall Street’s overnight losses, driven by oil prices hovering near $100, persistent inflation concerns, and bond yields at multi‑year highs. In China, Indonesia’s key trading partner, August CPI accelerated in line with expectations, while PPI exceeded forecasts, intensifying regional inflation worries.

Losses on the Jakarta bourse were partly contained by Finance Minister Purbaya Yudhi Sadewa’s reassurance that Indonesia’s GDP growth should remain solid in both Q3 and Q4, despite recent natural disasters. Among the notable laggards were Charoen Pokphand (-3.0%), Bumi Resources (-1.9%), Indo Tambangraya Megah (-1.7%), and Astra International (-1.6%).