Jakarta. Indonesian stocks fell 17 points, or 0.35%, to 5,039 at Monday’s opening as losses on Wall Street, concerns over AI-related stocks and uncertainty surrounding the US midterm elections weighed on investor sentiment.

Data from RTI showed that 1.89 billion shares had changed hands in early trading, with a total transaction value of Rp 485.99 billion ($26.7 million) across 58,777 transactions. A total of 137 stocks advanced, 329 declined and 181 remained unchanged.

Phintraco Sekuritas said Wall Street closed sharply lower on Friday as AI-related stocks came under pressure and investors positioned themselves ahead of the US midterm elections.

“Earnings reports and performance projections from technology companies that fell short of expectations have heightened concerns about signs of slowing growth in AI-related businesses,” Phintraco Sekuritas wrote in its research note on Monday.

Oil prices climbed more than 2% on Friday, Oct. 30, 2026, to their highest level since late April amid concerns that the US-Iran conflict could escalate following the US midterm elections. Meanwhile, gold prices fell 2.7% to $3,910 per troy ounce, their lowest level in a year, amid concerns over inflation and higher interest rates.

Phintraco said investors would closely monitor the US midterm elections this week. Polls indicate that Republicans risk losing their majority in the House of Representatives and control of the Senate, potentially complicating President Donald Trump's efforts to advance his agenda.

“Geopolitical conflicts will also remain on investors' radar, alongside the ongoing third-quarter 2026 earnings season,” the brokerage said.

Domestically, investors will be watching several key economic releases this week, including the Manufacturing Purchasing Managers' Index (PMI), trade balance, inflation, third-quarter 2026 gross domestic product (GDP) growth, foreign exchange reserves and the house price index.

Phintraco also highlighted the impact of the exclusion of HSC stocks from the Jakarta Composite Index (JCI) calculation starting Monday, a move expected to increase the weighting of other stocks that remain in the index, particularly those with large market capitalizations.

“Investors will monitor the impact of removing HSC stocks from the JCI calculation starting Monday, which will increase the weighting of other stocks that remain in the index, particularly those with large market capitalizations,” Phintraco said.

Separately, Kiwoom Sekuritas Indonesia projected Indonesia's trade surplus to narrow to $3 billion in September 2026, down from $3.55 billion in August.

BSI Chief Economist Banjaran Surya Indrastomo estimated that exports would reach $26.4 billion, representing 7.1% year-on-year (YoY) growth, while imports were projected to rise more sharply by 15.3% YoY to $23.4 billion.

Export performance continues to benefit from elevated coal prices, while stronger imports are driven by rising global oil prices and demand for raw materials and capital goods to support domestic manufacturing activity.

“This condition has the potential to put pressure on the trade surplus as import growth outpaces exports,” Kiwoom said.

On Wall Street, the Nasdaq Composite plunged 2.86% in Friday's session, while the S&P 500 fell 1.82% and the Dow Jones Industrial Average declined 1.09%.

Across regional markets, as of 9:26 a.m. Jakarta time, Japan's Nikkei 225 fell 0.29%, while South Korea's Kospi gained 1.17%. Hong Kong's Hang Seng Index advanced 0.40%, and the Shanghai Composite Index rose 0.93%.

Add as a preferred source on Google +