Indonesia’s IDX Composite plunged 89 points, or 1.3%, to 6,818 in Monday morning trade, marking its fourth consecutive day of losses and its lowest level since early May. The index tracked a fall in US stock futures after the US struck Iran’s three nuclear facilities over the weekend. Worries over potential Iranian retaliation following the attack further pressured sentiment.
The possibility of closing the key Strait of Hormuz also weighed on markets after Iran’s parliament approved its closure, as rising oil prices could drive up domestic inflation. Ongoing global trade uncertainty added to the cautious mood, while investors awaited the US PCE inflation data later this week to guide the Federal Reserve’s monetary policy path. All sectors traded in the red, led by property, utilities, and financials. Among the biggest laggards were Telkom (-2.3%), BNI (-1.7%), BRI (-1.6%), Astra International (-1.3%), and Bank Mandiri (-1.2%).
