FX.co ★ Weaknes in Indonesian Equities Persists as New Month Begins

Indonesian stocks slipped 16 points, or 0.3%, to 6,056 on Thursday morning, the first trading day of October, marking a sixth consecutive session of losses. Sentiment remained cautious ahead of key data releases due later in the day, including August trade figures and September inflation.

At the same time, rising global oil prices amid heightened U.S.–Iran tensions deepened concerns that monetary policy could remain tighter for longer, both globally and in Indonesia. However, the downside was partly cushioned by improving manufacturing conditions: the S&P Global Manufacturing PMI for September rose to a seven-month high of 52.4, supported by strong output, new orders, and export demand.

Sector-wise, declines in technology, industrials, and healthcare weighed on the market, while gains in energy, cyclical sectors, and financials helped limit overall losses. Gojek Tokopedia extended its sharp downturn, tumbling 12.5%. Other notable laggards included United Tractors (-4.2%), AKR Corporindo (-1.4%), and Mitra Adiperkasa (-1.0%).