FX.co ★ Indonesia Shares Hover at Over 2-Week Peak

Indonesian equities climbed 47 points, or 0.7%, to 6,455 in early Monday trading, extending last week’s gains. The advance was broad-based, with cyclicals, basic materials, energy, and financials all contributing, pushing the benchmark to its highest level in more than two weeks. Market sentiment was buoyed by stronger-than-expected Q2 GDP growth and a sizeable IDR 70 trillion liquidity injection into state-owned banks. At the same time, July’s foreign exchange reserves held firm at around USD 145 billion, highlighting the economy’s solid external buffers.

Nonetheless, caution persisted after weaker CPI and PPI data from key trading partner China pointed to fragile external demand, even as easing oil-price pressures from the Middle East conflict helped moderate cost risks. Among notable movers were Hartadinata Abadi (up 5.6%), Indosat (2.8%), Vale Indonesia (1.9%), and Perusahaan Gas Negara (1.0%). Traders now look ahead to Indonesia’s July consumer confidence data, following a decline in June to a nine-month low.