Indonesian Stocks Reverse Gains as Consumer Confidence Hits 15-Month\nLow<\/p>\n
Jakarta. Indonesian stocks opened higher on Tuesday but quickly\nreversed gains as investors turned cautious ahead of US inflation data\nand weighed weaker domestic consumer confidence.<\/p>\n
Jakarta Composite Index (JCI) opened at 6,383, up 18 points or 0.28%,\nbefore falling 0.63% within the first 10 minutes of trading. The index\nmoved between 6,321 and 6,388 during the session.<\/p>\n
Trading volume reached 5.6 billion shares, with turnover of Rp 1.77\ntrillion ($99.42 million) and more than 292,817 transactions. A total of\n143 stocks rose, 398 fell and 166 were unchanged.<\/p>\n
Phintraco Sekuritas said President Prabowo Subianto\u2019s nomination of\nDestry Damayanti as the sole candidate for Bank Indonesia governor was\nnot enough to lift the stock market, although it helped strengthen the\nrupiah.<\/p>\n
Domestic sentiment was also weighed down by a decline in consumer\nconfidence for the third consecutive month. Bank Indonesia\u2019s consumer\nconfidence index fell to 116.8 in July from 117.8 in June, its lowest\nlevel since April 2025.<\/p>\n
The decline was driven by the Current Economic Conditions Index,\nwhich fell to 107.9 from 109.2, and the Consumer Expectations Index,\nwhich dropped to 125.7 from 126.4.<\/p>\n
\u201cNevertheless, the index remains in the optimistic zone, indicating\nthat consumer confidence is still positive despite the decline,\u201d\nPhintraco Sekuritas said.<\/p>\n
Motorcycle sales, meanwhile, showed stronger momentum. Sales rose\n8.3% year-on-year to 636,000 units in July, accelerating from 1.1%\ngrowth in June and reaching their highest level since October 2014, as\ninflationary pressures eased during the month.<\/p>\n
Motorcycle sales grew 2% year-on-year to 3.77 million units in\nJanuary-July 2026. \u201cAISI expects motorcycle sales to remain relatively\nstable at around 6.4 million to 6.7 million units this year,\u201d Phintraco\nSekuritas said.<\/p>\n
Global sentiment remained cautious ahead of the release of US\nconsumer price index data for July on Wednesday, which is closely\nwatched for clues on the Federal Reserve\u2019s policy direction, Kiwoom\nSekuritas Indonesia said.<\/p>\n
\u201cThe market expects annual inflation to slow to 3.4% from 3.5% in\nJune, while weaker labor data previously has lowered expectations of a\nSeptember rate hike,\u201d Kiwoom said.<\/p>\n
Wall Street closed slightly lower on Monday after posting its\nstrongest weekly gain since mid-April. The S&P 500 fell 0.1% to\n7,753.11, the Nasdaq Composite declined 0.3% to 26,605.36, and the Dow\nJones Industrial Average slipped 0.1% to 53,975.98.<\/p>\n
The weakness was concentrated in technology stocks, including Intel,\nwhich fell after announcing plans to issue $15 billion worth of\nshares.<\/p>\n
Across regional markets as of 9:05 a.m. Jakarta time on Tuesday,\nJapan\u2019s Nikkei rose 2.08%, South Korea\u2019s Kospi gained 0.79% and Hong\nKong\u2019s Hang Seng advanced 0.32%. China\u2019s Shanghai Composite, however,\nslipped 0.20%.<\/p>\n
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