2026.07.0602:27:38UTC+00Indonesia Equities Rise for Fourth Session on Fiscal Moves

Indonesian shares extended gains on Monday, adding 39 points, or 0.7%, to reach 5,916 in early trade, their fourth consecutive advance and the highest level in a week. Sentiment drew support from stronger U.S. futures following a solid performance on Wall Street last week, while investors looked ahead to the release of minutes from the Federal Reserve’s June meeting later this week.

Domestically, confidence was boosted by reports that authorities plan to further scale back allocations for President Prabowo’s free meal program to ease fiscal pressures, including cutting distributions to four days per week from five. On the monetary front, recent rate hikes by Bank Indonesia have helped stabilize the rupiah, though Fitch warned that a prolonged decline in foreign exchange reserves could eventually weigh on Indonesia’s credit rating.

Gains were broad-based, led by basic materials, energy, and technology stocks, though some caution persisted ahead of the release of China’s CPI and PPI data. Notable movers included Energi Mega Persada (+4.7%), TBS Energi Utama (+4.3%), Indika Energy (+3.1%), and MD Entertainment (+3.0%).