Jakarta. Indonesian stocks fell 0.69% on Monday as weaker domestic consumer confidence and lingering global uncertainty weighed on investor sentiment, while markets continued to monitor developments surrounding Bank Indonesia’s leadership.

State Secretary Prasetyo Hadi said Monday that President Prabowo Subianto had formally submitted Destry’s name to the House of Representatives for approval. Destry has been serving as BI’s interim governor since Perry Warjiyo resigned about two weeks ago. Her appointment as permanent governor now awaits lawmakers’ approval.

“There is only one nominee for the BI governor position, and that is Mrs. Destry Damayanti,” Prasetyo said at the presidential palace in Jakarta.

The JCI moved between 6,362 and 6,462 during the session. Trading volume reached 46.9 billion shares, with turnover totaling Rp 18.2 trillion ($1.02 billion) across more than 2.6 million transactions. A total of 287 stocks advanced, while 329 declined and 180 were unchanged.

Domestically, market sentiment was also weighed down by weaker consumer confidence. Bank Indonesia’s latest survey showed the Consumer Confidence Index (IKK) fell to 116.8 in July from 117.8 a month earlier.

“Although it remains in the optimistic zone as it is above 100, the decline indicates weakening consumer confidence in household economic conditions,” Pilarmas Investindo Sekuritas said in a research note on Monday.

The decline was also reflected in the Current Economic Conditions Index (IKE), which fell to 107.9 from 109.2, while the Consumer Expectations Index (IEK) dropped to 125.7 from 126.4.

Global markets were influenced by weaker-than-expected US employment data. US nonfarm payrolls unexpectedly fell by 23,000 in July, while employment figures for the previous two months were revised sharply lower.

“The condition has eased expectations of a Federal Reserve rate hike in September. The market now estimates a 44% chance of a 25-basis-point rate hike in September, down from 67% a week earlier,” Pilarmas said.

Investors will now focus on US inflation data due this week for further clues on the Fed’s monetary policy direction.

Geopolitical risks also remained on investors’ radar, particularly developments in US-Iran relations and energy supply risks after Iran-aligned Houthi rebels claimed to have attacked Saudi Aramco’s Jazan refinery.

Asian markets mostly gained on Monday. Japan’s Nikkei 225 jumped 2.1%, while South Korea’s Kospi rose 0.7%. Hong Kong’s Hang Seng Index gained 0.9%, and the Shanghai Composite advanced 0.7%.

Overnight on Wall Street, the S&P 500 rose 0.6% to a fresh record high. The Dow Jones Industrial Average gained 0.3%, just below the record it set on Wednesday, while the Nasdaq Composite climbed 1.3%.

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