Indonesian Stocks Hit New High on Blue-Chip Gains, EMAS Debut
Jakarta. Indonesia’s benchmark stock index extended its record-setting rally on Tuesday, closing at 8,125.2 after gaining 85.16 points, or 1.06 percent. The rise was fueled by heavyweight stocks such as Bank Central Asia (BBCA) and Barito Renewables Energy (BREN).
The debut of Merdeka Gold Resources (EMAS) also energized trading, becoming the day’s most actively traded stock with Rp 7.1 trillion ($426 million) in negotiated transactions. EMAS surged to Rp 3,600, triggering a trading suspension after hitting the 25 percent daily limit alongside Jhonlin Agro Raya (JARR), Sekar Bumi (SKBM), and Suparma (SPMA).
Overall, 418 stocks advanced, 267 declined, and 272 were unchanged. The market recorded 2.38 million transactions, with 57.4 billion shares traded, worth Rp 31.41 trillion ($1.9 billion).
The day’s biggest decliners included Tunas Alfin (TALF), down 11 percent, followed by Panca Anugrah Wisesa (MGLV) sliding 9.94 percent, Falmaco Nonwoven Industri (FLMC) dropping 9.66 percent, Sumber Mas Konstruksi (SMKM) down 9.46 percent, and Asia Sejahtera Mina (AGAR) falling 9.42 percent.
Global Markets
Global equities also posted gains on Tuesday, extending Wall Street’s rally. France’s CAC 40 climbed 0.9 percent to 7,898.76, Germany’s DAX rose 0.6 percent to 23,664.15, and Britain’s FTSE 100 edged up 0.3 percent to 9,253.19. U.S. futures signaled a modestly higher open, with Dow futures up nearly 0.1 percent at 46,749.00, while S&P 500 futures were flat at 6,753.00.
In Asia, Tokyo markets were closed for a national holiday. Australia’s S&P/ASX 200 added 0.4 percent to 8,845.90, and South Korea’s Kospi gained 0.5 percent to 3,486.19. Chinese markets retreated, with Hong Kong’s Hang Seng slipping 0.7 percent to 26,159.12 and the Shanghai Composite falling 0.2 percent to 3,821.83, amid uncertainty over U.S. tariff negotiations.
Market Drivers
Investor focus remains on global monetary policy, particularly the U.S. Federal Reserve. Stocks have surged since April on optimism that U.S. President Donald Trump’s tariffs will not derail global trade and that the Fed will deliver multiple interest rate cuts to support growth.
Fed Chairman Jerome Powell is set to deliver remarks later in the day, following last week’s first rate cut of the year, with signals of further easing ahead. U.S. inflation data due Friday is also expected to influence market sentiment.
In Europe, shares of Kenvue Inc., maker of Tylenol, rebounded 5 percent after hitting a record low Monday. The recovery came after Trump repeated discredited claims linking Tylenol, vaccines, and autism -- assertions the company strongly denied.
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