FX.co ★ Indonesian Equities Surge on Middle East Ceasefire, FTSE Status

Indonesian equities surged 198 points, or 2.9%, to 7,175 in early Wednesday trading, snapping a three-session losing streak as investors hunted for bargains. Sentiment was further supported by a rally in U.S. futures after President Trump agreed to a ceasefire with Iran just before a deadline to reopen the strait, amid reports of progress toward potential talks.

Investors also reacted positively to FTSE Russell’s decision to keep Indonesia off its watch list and maintain its Secondary Emerging market status, while noting that ongoing reforms will be evaluated ahead of the June 2026 review. However, gains were tempered by caution ahead of the release of March foreign exchange reserves data later today, following February’s three-month low. At the same time, Indonesia’s fiscal outlook remains vulnerable to surging energy costs and external shocks.

Advances were broad-based, led by basic materials, cyclical sectors, industrials, and financials. Notable gainers included Trimegah Bangun Persada (up 6.2%), Bank Negara Indonesia (5.4%), Aneka Tambang (5.2%), Mitra Adiperkasa (5.1%), and Semen Indonesia (3.9%).