Indonesian Stocks Flat as Investors Await September Inflation Data
Jakarta. Indonesian stocks edged up 0.01% to 6,071 on Thursday as investors awaited September inflation data for clues on domestic price pressures, with higher oil prices posing a risk to the inflation outlook.
Jakarta Composite Index (JCI) rose 0.39 points to 6,071, fluctuating between 6,062 and 6,085 in early trading.
A total of 5.37 billion shares changed hands in the opening minutes, with transactions valued at Rp 687.95 billion ($38.38 million) across 112,445 trades. Of the stocks traded, 268 rose, 225 fell and 201 were unchanged.
Phintraco Sekuritas said investors were awaiting Indonesia’s September inflation figures, with consensus forecasts pointing to a monthly increase of 0.31%, up from 0.21% in August.
Annual inflation is projected to accelerate to 3.3% in September from 3.19% in August. Core inflation is also expected to rise to 3%, from 2.92% a month earlier.
The inflation outlook comes as the government and the House of Representatives agreed to allocate Rp 261.5 trillion for energy subsidies in the 2027 state budget, Rp 11.4 trillion below the initial Rp 272.94 trillion allocation proposed in the 2027 State Budget Financial Note and Draft Budget.
“If oil prices continue to rise through next year, inflation could remain elevated,” Phintraco Sekuritas said.
Meanwhile, Indonesia’s trade surplus is projected to widen to $600 million in August from $130 million in July. However, export growth is expected to slow to 4.2% year-on-year from 6.05%.
Imports, by contrast, are forecast to accelerate, growing 31.7% year-on-year in August, up from 27% in July, Phintraco Sekuritas said.
The brokerage also expects the S&P Global Manufacturing Purchasing Managers’ Index (PMI) to return to expansion territory at 50.3 in September, from 49.8 in August. The data is scheduled for release on Thursday.
On Wall Street, US stocks closed mixed on Wednesday. The S&P 500 fell 0.25%, while the Dow Jones Industrial Average declined 0.86%. The Nasdaq Composite bucked the trend, rising 0.24%.
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