Jakarta shares extended gains for a third session as July foreign inflows and stronger economic growth offset caution before forex reserves data and China trade figures.
Indonesian stocks climbed 19 points, or 0.3%, to 6,371 in early Thursday trading, marking a third straight session of gains. The advance followed firmer U.S. equity futures, helped by upbeat earnings and renewed enthusiasm around artificial intelligence, even after Wall Street closed mostly lower overnight. Local sentiment was reinforced by second-quarter annual GDP growth of 5.29% year over year, above forecasts though slightly below the first quarter's 5.61%, bringing first-half growth to 5.45%. Foreign investors also provided support with net purchases of IDR 1.62 trillion in July after months of persistent outflows. Still, gains were capped by caution ahead of July foreign exchange reserves data and trade figures from China, Indonesia's top trading partner, both due Friday. Transport, basic materials and financial shares led the move, with Hartadinata Abadi up 6.0%, Petrindo Jaya Kreasi gaining 3.7%, Charoen Pokphand rising 1.6% and Bank Tabungan Negara adding 1.4%.