Indonesia's IDX Composite pares gains near 6,417 on weak domestic sentiment

Indonesia's IDX Composite gave up most of its morning advance on Monday afternoon, hovering near 6,417 as investors weighed soft domestic indicators and a fresh development at the central bank. July consumer confidence fell for a third straight month to a 15-month low, reinforcing concerns about economic conditions and job prospects, while traders stayed cautious before June retail sales data due Tuesday after May posted the sharpest sales decline in three years amid elevated inflation and higher non-subsidised fuel prices. External sentiment was also restrained as Dow futures eased ahead of U.S. inflation data later this week and geopolitical tension rose after Iran sought war-damage compensation from Washington in peace talks. President Prabowo Subianto nominated acting Bank Indonesia Governor Destry Damayanti as the sole candidate to lead the central bank, with State Secretary Prasetyo Hadi saying the parliamentary process could take weeks. ESSA Industries, Merdeka Copper Gold, United Tractors and Bumi Resources were among notable gainers.

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