Jakarta. Indonesia's benchmark stock index posted modest gains this week as stronger trading activity offset persistent foreign outflows and growing concerns over global trade tensions and rising oil prices.

The Jakarta Composite Index (JCI) climbed 0.34% to 6,196.430 in the week ended July 24, while the Indonesia Stock Exchange's market capitalization increased 1.13% to Rp 10,870 trillion ($606.5 billion).

Trading activity picked up sharply, with average daily turnover jumping 41% to Rp 19.76 trillion and average daily transaction frequency rising 14% from the previous week.

Foreign investors, however, remained net sellers, offloading Rp 1.36 trillion of Indonesian equities on Friday. Cumulative net foreign sales have reached Rp 79.09 trillion so far this year, underscoring continued caution toward Indonesian assets.

The rupiah also weakened slightly, slipping 0.08% over the week to Rp17,963 per US dollar.

Pilarmas Investindo Sekuritas attributed early-week market pressure to Brent crude's surge above $100 a barrel after attacks on shipping in the Red Sea heightened concerns over Middle East tensions and potential disruptions to global energy supplies.

Sentiment was further dampened by US President Donald Trump's threat to retaliate against Iran following attacks near the Strait of Hormuz and by Washington's rollout of new import tariffs on dozens of trading partners, raising fears of slower global growth and higher inflation.

Adding to investor concerns, a new 10% US tariff on Indonesian goods linked to a forced labor investigation took effect on Friday, replacing a temporary blanket tariff imposed earlier this year.

Finance Minister Purbaya Yudhi Sadewa said higher oil prices would put additional pressure on the 2026 state budget, particularly spending by ministries, government agencies and regional governments, but maintained that Indonesia's fiscal position remains secure.

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