FX.co ★ Indonesian Shares Extend Losing Streak

Indonesian equities fell 35 points, or 0.5%, to 6,500 in Tuesday morning trade, extending losses into a fifth consecutive session. The decline followed a weaker close on Wall Street overnight, as investors assessed the impact of rising oil prices, elevated bond yields, and the upcoming U.S. Federal Reserve policy decision.

In China, August data pointed to uneven economic momentum: retail sales growth slowed and unemployment inched higher, although industrial production showed an improvement. Domestically, newly appointed Finance Minister Suahasil Nazara vowed to strengthen the ministry’s credibility and use the state budget more effectively to support economic growth, just hours after being sworn in to replace Purbaya Yudhi, whose tenure was characterized by assertive fiscal measures and frequent public controversy.

Sector-wise, financials, healthcare, and transportation led the declines, while cyclical stocks offered some offsetting support. State-owned banks were notable drags on the index, with Bank Negara Indonesia down 2.3%, Bank Rakyat Indonesia 2.1% lower, and Bank Mandiri off 2.0%. Other significant losers included ESSA Industries (-2.3%), Bukit Asam (-1.0%), and Astra International (-0.8%).