07.07.202602:41:12UTC+00Indonesia Shares Hold Cautious Upside

Indonesian equities edged higher in Tuesday morning trade, with the IDX Composite rising 12 points, or 0.2%, to 5,927. The benchmark extended its push toward a fifth consecutive gain, supported by Wall Street’s positive lead and a record close for the Dow overnight, ahead of the release of the Federal Reserve’s June meeting minutes. Domestically, sentiment was aided by the House Budget Committee’s proposal to scale back the 2027 free meal program to strengthen fiscal efficiency. However, optimism was partly capped by labor concerns in the digital sector, as TikTok Indonesia faced allegations of layoffs tied to its e-commerce partner Tokopedia. Investors also remained cautious ahead of June foreign exchange reserve data due later today, following five straight monthly declines that pushed reserves to a near two-year low in May. In addition, upcoming CPI and PPI readings from key trading partner China were in focus. Early gainers included Barito Pacific (up 3.7%), Semen Indonesia (3.6%), Japfa Comfeed (1.5%), and Astra International (1.3%), reflecting selective buying against a backdrop of broader caution.