29.04.202602:47:07UTC+00Indonesia Equities Bounce Back

The Indonesia Stock Exchange Composite Index (IDX Composite) climbed 33 points, or 0.5%, to 7,106 in early Wednesday trading, breaking a seven-session losing streak and rebounding from a near three-week low. Sentiment improved on the back of bargain hunting, while a notable rise in U.S. stock futures provided additional support ahead of the Federal Reserve’s rate decision later in the day.

On the domestic front, reports indicated that the government has canceled the Free Nutritious Meal program on Saturdays to save around IDR 1 trillion per day, helping to ease fiscal pressures. Even so, gains were capped by investor caution ahead of key local data releases later this week, including April CPI figures and March trade data.

Separately, Indonesia’s state logistics agency reportedly warned of tight supplies of subsidized cooking oil, citing a lack of fresh deliveries from producers. Sector performance on the bourse was broadly positive, led by non-cyclical stocks, industrials, and financials. Among the notable gainers were Gojek Tokopedia (up 5.7%), Indo Tambangraya Megah (2.6%), Astra International (2.1%), and Adaro Andalan Indonesia (1.8%).