FX.co ★ Indonesian Equities Trade Lower After Recent Rally

Indonesian equities slipped 0.3% to 6,077 in Monday morning trade, pausing after a recent rally as infrastructure, financial, and transport stocks dragged on the benchmark. Risk appetite softened after U.S. President Donald Trump signaled he may support Saudi Arabia in retaliating against Tehran-backed Houthi forces following a deadly weekend attack on Riyadh’s main airport.

Investors also turned cautious ahead of key CPI, PPI, and trade data from China—Indonesia’s major trading partner—due later this week as markets there fully reopen after an extended holiday. On the domestic front, inflation risks remained in focus after September’s consumer price inflation accelerated to a three-month high of 3.28%, with food prices expected to remain a primary driver through year-end.

Downside pressure was partially offset by August retail sales, which recorded their fastest pace of growth in five months, supported by ongoing government measures aimed at cushioning households from rising living costs. Among notable underperformers were Gojek Tokopedia (-6.7%), XL Smart Telecom (-3.4%), Mitra Adiperkasa (-2.3%), and Indika Energy (-2.2%).