Indonesia stocks rise 1.11% as IDX Composite closes higher

Indonesian equities ended higher on Tuesday, with the benchmark IDX Composite Index gaining 1.11% to close at 7,234.89 points.

The advance was driven by broad-based buying interest, particularly in financial and consumer sectors, which offset losses in energy and mining shares. Financial stocks, including Bank Mandiri and Bank Central Asia, contributed significantly to the gains, while consumer staples such as Unilever Indonesia also saw upward momentum.

Market participants cited stable regional sentiment and expectations of continued monetary policy support from Bank Indonesia as key tailwinds. The central bank has maintained its benchmark seven-day reverse repo rate at 6.25% in recent meetings, balancing inflation concerns with growth objectives.

Foreign investors were net buyers of Indonesian equities for a second consecutive session, purchasing approximately $45 million in shares, according to exchange data. Local retail investors also showed increased participation, with turnover volumes rising 8.3% from the previous day.

The positive close followed a mixed performance across Asia-Pacific markets, where gains in South Korea and Australia contrasted with declines in China and Japan. The Indonesian rupiah held steady at 15,980 per U.S. dollar, reflecting limited pressure on the currency despite global risk-off sentiment.

Analysts at Mirae Asset Sekuritas Indonesia noted that the market's upward trajectory could extend if domestic economic data continues to align with expectations, particularly in consumption and manufacturing sectors.