Jakarta. Indonesian stocks reversed early gains to trade below the 6,000 level on Friday morning, fluctuating between 5,997 and 6,047 during the first trading session as investors weighed domestic economic indicators and weaker US technology stocks.

Jakarta Composite Index initially rose 0.13% to 6,039 before turning lower. Data from RTI showed 2.93 billion shares traded in the early minutes, with a transaction value of Rp 242.7 billion ($13.56 million) across 43,582 transactions. A total of 212 stocks advanced, 156 declined and 277 remained unchanged.

Phintraco Sekuritas said Indonesia’s Consumer Confidence Index (CCI) fell to 118.1 in September 2026 from 118.5 in August, which had marked a three-month high.

The decline was mainly driven by the Current Economic Conditions Index, which dropped to 107.5 from 109.4, its lowest level in 12 months.

“However, the Consumer Expectations Index rose to 128.7 from 127.6, supported by increases in the Income Expectations Index and the Job Availability Expectations Index,” Phintraco Sekuritas said.

Despite the dip in consumer confidence, vehicle sales showed continued growth in September.

Car sales in Indonesia rose 28.1% year-on-year (YoY) to 79,450 units in September, slowing from 32.4% growth in August. For the third quarter of 2026, car sales increased 21% YoY to 679,020 units.

Motorcycle sales climbed 15.37% YoY to 654,343 units in September, marking their highest level since October 2014 and the strongest growth since May 2026.

“As a result, motorcycle sales in Indonesia grew 3.71% YoY to 5.02 million units in the third quarter of 2026,” Phintraco Sekuritas added.

Meanwhile, US stocks closed lower for a second consecutive session on Thursday, with technology shares weighing on the broader market, Kiwoom Sekuritas Indonesia said.

The S&P 500 fell 0.47%, while the Nasdaq Composite dropped 1.25%. The Dow Jones Industrial Average edged up 0.10%.

“Technology stocks were the main source of pressure after media reports indicated that OpenAI’s annualized revenue was lower than previously indicated,” Kiwoom said.

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