Indonesia Stocks Surge from Near 4-Year Low
Indonesia’s IDX Composite jumped 303 points, or 5.0%, to 6,271 in early trades on Thursday, after hitting its lowest level in nearly four years over the previous two sessions. The rise tracked a rally on Wall Street overnight, following President Trump's announcement to suspend a 90-day reciprocal tariff for all countries, excluding China. Indonesian markets reopened on Tuesday for the first time since the close on March 27. The US, the third-largest export destination for Indonesia, imposed a 32% trade tariff on Indonesian goods under Trump's policy. Indonesia will not retaliate against Trump’s tariff, while top Indonesian economic officials will head to Washington next week to negotiate. All sectors moved into the green, led by utilities and non-energy minerals, with notable gains from Bank Mandiri (6.7%), BNI (6.2%), United Tractors (6.0%), BRI (5.0%), Indofood (4.7%), Gudang Garam (4.5%), and BCA (4.4%).
Source: Trading Economi