Strait of Hormuz Open to Non-Enemy Ships, Airline Issuer Shares Soar

Jakarta, CNBC Indonesia — The Composite Stock Price Index (IHSG) surged more than 1% following the Eid holiday. The index opened down 0.31% at the level of 7,084 in early trading, but less than an hour after the market opened, the IHSG jumped 1.05% or rose 75 points to the level of 7,181.65. A total of 448 stocks rose, 183 fell, and 108 remained unchanged. The transaction value reached Rp 7.06 trillion, involving 12.67 billion shares in 616,042 transactions. Market capitalisation also climbed to Rp 12,709 trillion. This increase occurred amid positive sentiment towards the shipping logistics sector. Iran has stated that “non-enemy” ships can now pass through the Strait of Hormuz. This statement was conveyed to the International Maritime Organisation (IMO), amid rising tensions in the strategic shipping lane. In addition, expectations of a ceasefire between the United States and Iran are increasing. The US government is reportedly sending a 15-point peace proposal to end the conflict that has long disrupted global energy distribution. US President Donald Trump stated that Iran has offered a “gesture of goodwill” in negotiations related to the smooth flow of energy through the Strait of Hormuz. Israeli media also reported that Washington is pushing for a one-month ceasefire to open room for talks. Notably, shares of PT Soechi Lines Tbk (SOCI) surged 18.75% to 494, and PT Buana Lintas Lautan Tbk (BULL) jumped 16.35% to 370. These shares recorded the highest gains among other shipping issuers. Then, PT Pelayanan Nasional Bina Buana Raya Tbk (BBRM) also posted a significant increase of 12.31% to 146. This was followed by shares of PT Humpuss Maritim Internasional Tbk (HUMI), which strengthened 11.73% to 181. Other shares that also experienced a surge include PT GTS Internasional Tbk (GTSI), which rose 11.48% to 204, as well as global player Seanergy Maritime Holdings Corp (SHIP), which strengthened 7.06% to 13.35. Meanwhile, PT Samudera Indonesia Tbk (SMDR) also recorded a 5.85% increase to 362. This was followed by PT Mitrabahtera Segara Sejati Tbk (MBSS), which rose 4.11% to 1,645, and PT Wintermar Offshore Marine Tbk (WINS), which strengthened 3% to 515. Shares of PT Transcoal Pacific Tbk (TCPI) also rose slightly by 1.28% to 11,850, while PT Habco Trans Maritima Tbk (HATM) rose 0.65% to 312. On the other hand, PT Temas Tbk (TMAS) remained relatively stagnant at 125.