04.11.202508:42:50UTC+00Indonesia Shares Drop Ahead of Upcoming Q3 GDP Data

Indonesian stocks experienced a decline of 22 points, or 0.3%, settling at 8,253 by Tuesday afternoon, effectively reversing earlier gains as market sentiment turned negative. This downturn was partly influenced by global equities being under pressure after President Trump declared a ban on the export of Nvidia's advanced AI chips to China, though some restricted access would still be allowed for Beijing. Additionally, market caution intensified in anticipation of the domestic third-quarter GDP data slated for release on Wednesday, fueled by concerns that President Prabowo Subianto's pro-growth initiatives could lead to increased imports. Furthermore, geopolitical tensions and the uncertain economic recovery of China, Indonesia's key trading partner, also contributed to the bearish sentiment. Recent data indicated that Indonesia's annual inflation reached a one-and-a-half-year high of 2.86% in October, up from 2.65% in September, yet remained within Bank Indonesia's target range of 1.5–3.5%. The biggest losses were recorded in the sectors of non-energy minerals, consumer durables, and financials, with significant declines seen in companies such as Tower Bersama Infrastructure (-4.9%), Archi Indonesia (-3.7%), Jhonlin Agro Raya (-3.2%), and Pertamina Geothermal (-2.7%).