14.04.202602:43:09UTC+00Indonesian Market Rallies to 5-Week High on Broad Gains

Indonesian equities rose 119 points, or 1.6%, to 7,617 in early Tuesday trading, extending gains for a fifth consecutive session to reach a five-week high. Market sentiment tracked an overnight rally on Wall Street, where the S&P 500 and Nasdaq advanced, after signals from Washington that it would maintain diplomatic engagement with Tehran even as it moved to block Iran’s ports following the collapse of peace talks.

Domestically, investors responded positively to the government’s renewed focus on energy security—highlighting cooperation with Russia and the development of the electric vehicle (EV) industry—as part of efforts to reduce exposure to volatile global markets.

Upside momentum was partly capped by caution ahead of March trade data from China, Indonesia’s largest trading partner, and by ongoing inflationary pressures at home, particularly from rising fuel prices. The rupiah’s continued depreciation also weighed on sentiment, especially in import-dependent sectors.

All sectors advanced, led by industrials, basic materials, and infrastructure. Notable gainers included Petrosea (+9.6%), Darma Henwa (+6.7%), Bumi Resources (+4.1%), Bank Central Asia (+3.0%), and Bank Rakyat Indonesia (+2.7%).