FX.co ★ Indonesian Stocks Recover From Morning Weakness

Indonesian shares climbed 59 points, or 0.7%, to 7,513 in Monday afternoon trade, reversing early losses and extending gains for a fourth consecutive session. The IDX Composite neared a one-month high as sentiment improved following February retail sales data, which showed the strongest growth in nearly two years, underpinned by solid household spending during Ramadan and the festive period. Confidence in continued fiscal discipline also supported the advance, with revenue mobilization and targeted expenditure expected to keep the fiscal stance manageable.

At the same time, the 15% free-float regulation officially came into force on March 31, up from 7.5%, with companies valued below IDR 5 trillion required to comply by March 2029. Sector-wise, energy, cyclicals, and basic materials led the rally, with notable gainers including MD Entertainment (up 18%), Barito Pacific (16.4%), Energi Mega Persada (12.6%), and Medco Energi (5.8%). Traders are now looking ahead to China’s March trade data, scheduled for release on Tuesday, given China’s role as Indonesia’s main trading partner.