FX.co ★ Broad-Based Rally Lifts Indonesia Stocks from 8-Month Low

Indonesia’s IDX Composite jumped 133 points, or 1.8%, to 7,471 on Tuesday, snapping a two-day slide after Wall Street’s overnight rebound and remarks by U.S. President Donald Trump suggesting the Middle East war could be “over soon.” Bargain hunting also lifted sentiment, as the local market had fallen to an eight-month low the previous day amid surging oil prices that dampened global risk appetite.

On the domestic front, Jakarta confirmed it will not raise subsidized fuel prices in the near term. Energy Minister Bahlil Lahadalia said policy reviews remain underway to protect consumers during Ramadan and Eid. Still, gains were limited by investor caution ahead of China’s January–February trade data due later in the day. At the same time, Indonesia’s consumer confidence softened in February after reaching a one-year high in January.

The advance was broad-based, led by basic materials, industrials, and cyclical stocks. Notable gainers included Bumi Resources (+6.4%), Surya Citra Media (+5.3%), Trimegah Bangun Persada (+4.3%), and Japfa Comfeed (+4.1%).