30.04.202602:52:17UTC+00Indonesia Stocks Under Pressure, Monthly Loss Looms

Indonesian shares fell 98 points, or 1.4%, to 7,001 in Thursday morning trade, erasing the modest gains from the previous session and mirroring broader weakness across Asian markets after a mixed close on Wall Street. Sentiment was pressured by reports that the United States plans to maintain an extended blockade on Iran, which pushed oil prices higher and dampened risk appetite.

The Federal Reserve, meanwhile, kept interest rates unchanged for a third consecutive meeting, though four policymakers dissented, underscoring policy uncertainty. For April, the local equity market is on track for a fourth straight monthly decline, down around 0.4%, amid mounting inflation concerns following hikes in non-subsidized fuel prices.

Investor caution also intensified ahead of key domestic data releases next week, particularly April inflation figures. However, some downside was limited by the launch of downstream projects worth IDR 116 trillion, aimed at strengthening industrial output.

All sectors traded lower, with industrials, basic materials, and energy recording the steepest losses. Among notable decliners were Bank Jago (-6.7%), ESSA Industries (-6.3%), and Mitra Adiperkasa (-4.7%). The market will be closed on Friday for a public holiday.