Indonesia Stocks Surge from Near 4-Year Low
In an impressive rebound, Indonesia's IDX Composite surged by 303 points, marking a 5.0% increase to reach 6,271 during early trading on Thursday. This upswing follows a recent period where the index fell to its lowest point in almost four years over the past two sessions. The boost aligns with a Wall Street rally that occurred overnight, inspired by President Trump's decision to implement a 90-day suspension of reciprocal tariffs affecting all countries, with China being the exception. Indonesian financial markets reopened on Tuesday, after being closed since March 27. Despite the fact that the United States, Indonesia's third-largest export market, has enacted a 32% trade tariff on Indonesian products under Trump's directive, Indonesia has chosen not to retaliate. Instead, senior Indonesian economic officials are scheduled to travel to Washington next week for negotiations. All sectors registered gains, with pronounced progress in utilities and non-energy minerals. Significant increases were seen in shares of Bank Mandiri (6.7%), BNI (6.2%), United Tractors (6.0%), BRI (5.0%), Indofood (4.7%), Gudang Garam (4.5%), and BCA (4.4%).
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