ISHRS MSCI Indonesia

Indonesia Plans to Tighten Bulk Commodity Export Controls

Indonesian Stock Exchange Chairman Says MSCI Announcement Lowers Market Uncertainty

Indonesian Minister of Planning Sets 2027 GDP Growth Target at 5.9% to 7.5%

Indonesia's GDP Grew 5.61% in Q1, Future Growth May Slow

Indonesia's Coal Exports from January to March Reaches 85.87 Million Tonnes

Indonesia Maintains 7-Day Repo Rate at 4.75%

Indonesia Central Bank Expects Q1 GDP Growth to Exceed 5%

Indonesia's Central Bank Indicates Narrowing Space for Future Rate Cuts

Indonesian Rupiah Rises to 16970 per US Dollar

Indonesia Raises Public Shareholding Ratio to 15%

Indonesia's CPI rose by 0.41% MoM in March

Indonesia's Coal Exports Were 56.39 Million Tons in Jan-Feb

Indonesia's February Exports Grow Below Forecast

Indonesian Stock Exchange Releases 15% Free Float Rule

Indonesia's Energy Minister Says LPG and Fuel Supplies Are Safe

Indonesia Central Bank Raises NDF Sales Threshold to $10 Million

Bank Indonesia Adjusts Foreign Exchange Policy to Stabilize Rupiah

Indonesia's Central Bank Maintains Benchmark Rate at 4.75%

Fitch Downgrades Indonesia's Sovereign Credit Rating Outlook to Negative

Bank Indonesia Projects 2026 GDP Growth at 4.9% to 5.7%

Amesite

InMed Pharmaceuticals

Meiwu Tech

Phoenix Asia

Generation Income Properties

Co-Diagnostics

MetaVia

BAYVIEW ACQUISITION CORPORATION COM USD0.0001 (S/R) 17/11/2028

NextNRG

Virax Biolabs

EIDO

Indonesia plans to tighten control over commodity exports, including coal and palm oil, to combat tax evasion and support the declining rupiah. A new state entity, supervised by the sovereign wealth fund Danantara, may be announced soon. This move aims to address under-invoicing issues that have cost the government billions in tax revenue. The stock index fell 3.5% amid speculation about the new agency, which could impact global commodity markets.

Businesstimes News

VanEck Indonesia Index ETF

Indonesia plans to tighten state control over commodity exports

VNAM

ASEAN nations are reversing their commitments to net-zero emissions and returning to fossil fuels due to a recent energy crisis exacerbated by Middle East conflicts. Countries like Indonesia and Vietnam are increasing coal production and usage to ensure affordable and reliable electricity for their growing economies. This shift highlights the challenges of transitioning to renewable energy amidst rising gas prices and supply chain disruptions, as governments prioritize energy security over climate pledges.

Thehill

Global X MSCI Vietnam ETF

VanEck Vietnam ETF

ASEAN nations return to fossil fuels, back away from net zero plans

Southeast Asia's power demand is expected to surge by over 100 TWh in four years, necessitating $200B in investments. Analysts warn of an $18B annual shortfall in grid investments by 2035, which could lead to delays and cancellations of renewable projects. In the past five years, up to 60% of renewable projects in Vietnam, Thailand, and Indonesia have been scrapped due to regulatory and system challenges.

ISHRS MSCI Thailand Capped

Southeast Asia faces $200B power demand surge amid grid risks

The Indonesian rupiah has hit a record low, dropping 1.1% to 17,658 per US dollar amid inflation fears and a global sell-off. The currency also fell against the Singapore dollar, and Jakarta's main stock index dropped over 4%. Fitch and Moody's have downgraded Indonesia's credit outlook to negative. Bank Indonesia is under pressure to defend the rupiah, which has weakened over 5% against the dollar this year. President Prabowo Subianto claimed the economy remains strong despite the currency's decline.

Straitstimes

MSCI

Australia and New Zealand Banking Group Limited

Moodys

ANZ Group Holdings Limited

Indonesia rupiah slumps to new low as high oil prices fuel inflation fears

SPEM

SCHE

IEMG

Thailand's Q1 GDP data is expected to show slowed growth, with private consumption moderating and tourism revenue contracting. In Malaysia, inflation may rise to 1.9% due to higher fuel prices, while exports remain strong. Indonesia's central bank is likely to raise its policy rate by 25 basis points amid forex pressures, although a larger hike is deemed unlikely. A pause may occur if significant foreign currency bonds are issued.

MorningStar

VG Em Mkts

ISHRS MSCI My

SPDR Em Mkt

Schw Em Mkt

iShares MSCI Em

iShares Core MSCI EM

Barclays

Citigroup

CITIGROUP INC 6.250 NON CUM SER II PFD WI

Week Ahead for FX, Bonds: Fed Minutes in Focus as -2-

L6EW

DJSC

DJMC

European markets showed mixed results in early trading, with the pan-European STOXX 600 up 0.4%. In Asia, South Korea rebounded 2.6%, while Indonesia's IDX fell 2% after MSCI announced the removal of over 10 Indonesian stocks from global indices due to high ownership concentration. Eurozone GDP grew 0.1% QoQ, but industrial production fell 2.1% YoY, missing expectations. Futures for US indices were mixed, with DJIA futures down 0.5% and Nasdaq up 0.83%.

AASTOCKS News

Ossiam STOXX Europe 600 Equal Weight NR

ETFS Capital Ltd.

iShares EURO STOXX Small UCITS ETF

ISHRS MSCI S Korea Capped

iShares EURO STOXX Mid UCITS ETF

iShares STOXX Europe 50 UCITS ETF

Xtrackers STOXX EUROPE 600 OIL & GAS UCITS ETF Capitalisation 1C

Select STOXX Europe Aersspc & Defns ETF

Lyxor FTSE 100 UCITS ETF

BetaShares Holdings Pty Ltd.

HSBC FTSE 100 UCITS ETF

Huaan France CAC40 ETF(QDII)

Alger Mid Cap 40 ETF

PRINCIPAL ASEAN40 US

Global X DAX Germany ETF

Xtrackers DAX Income UCITS ETF

Deutsche Bank AG

RBS Market Access SICAV - RBS Market Access Short FTSE MIB Monthly Index ETF Capitalisation

RBS Market Access SICAV - RBS Market Access Leveraged FTSE MIB Monthly Index ETF Capitalisation

Huatai-PB MSCI China A Inclusion ETF

IBEX

Idex

DB X-TRACKERS X MSCI MEXICO

Nomura Holdings, Inc.

Dow Jones Industrial Average

Fidelity Nasdaq Composite Index ETF

Nasdaq

NASDAQ Composite Index

Bosera S&P 500 ETF

Guotai S&P 500 ETF(QDII)

S&P 500

Japan Agricultural Cooperatives Group

Asset Management One Co., Ltd.

Mitsubishi UFJ Financial Group, Inc.

FTSE ST China Index

Conglomerates Index

RBS Market Access SICAV - RBS Market Access S&P GSCI Capped Component 35/20 2x Inverse Monthly Index ETF Capitalisation

SM Micro

SZSE SME 100 Index

Hang Seng Index

State Street Corp.

BOSERA STAR50-R

NOVONIX Ltd

NZME Ltd.

Enlight Renewable Energy

REV Renewables, Inc.

Renewable Japan Energy Infrastructure Fund. Inc.

Pacific Century

Alam Sutera Realty Tbk

APAC Realty

New Ruipeng Pet Group Inc.

VG Extend Trsy

Western Areas Limited

Compass Minerals

Almaden Minerals Ltd.

International General Ins

alstria office REIT-AG

Altria

Kencana Agri

Santos Limited

Genting Sing

Banyan Tree

Novonix

NOVONIX Limited

Europe Markets Mixed Early; Asia Markets Mostly Higher with S Korea Rebounding 2.6%, Indonesia IDX Falls 2% as MSCI Removes Over 10 Indonesian Stocks from Global Indices

Indonesia's economy grew 5.61% in Q1 2026, the fastest pace in over three years, driven by a 21.8% increase in government spending and strong household consumption during Ramadan. However, analysts caution that growth may slow due to high energy prices and external pressures from the Middle East conflict. Finance Minister Purbaya Yudhi Sadewa remains optimistic about continued growth, supported by incentives for key sectors. The government targets GDP growth of 5.4% for 2026, while Bank Indonesia forecasts a range of 4.9% to 5.7%.

- In the first quarter of 2026, Indonesia's economy grew at its fastest rate in over three years, with a year-on-year GDP increase of 5.61%, driven by a surge in government spending and festive activities.  
- However, analysts warn that conflicts in the Middle East could threaten this growth momentum, as rising energy prices and fiscal pressures may dampen future economic activity.  
- The Indonesian government anticipates continued growth supported by incentives for sectors like electric vehicles, despite facing challenges such as external economic shocks and budget constraints.

Indonesia's first-quarter economic growth is fastest in over three years

Indonesia ranks second in Southeast Asia for ultra-wealthy individuals, with 3,833 people holding US$30 million or more, a 37% increase since 2021. This number is projected to rise by 82% to 6,966 by 2031, marking the fastest growth globally. Singapore leads the region with 7,171 ultra-high net worth individuals, followed by Thailand, the Philippines, Malaysia, and Vietnam. The Asia-Pacific region comprises nearly 31% of the global ultra-high net worth population, trailing North America's 37%.

vnexpress

Indonesia’s ultra-wealth population ranks 2nd in Southeast Asia

Indonesia's central bank intervened in foreign-exchange markets as the rupiah hit a record low of 17,422 per US dollar, dropping 0.2%. The intervention included offshore and domestic non-deliverable forwards, spot transactions, and government bonds. This decline is attributed to investors selling off assets from countries affected by rising oil prices due to the Iran war. The central bank aims to stabilize the rupiah and ensure proper market functioning.

Indonesia intervenes in markets as rupiah sets new record low

Indonesia's April Consumer Price Index (CPI) rose 2.42% YoY, below the expected 2.7%, while March exports fell 3.1% YoY, missing forecasts. The S&P Global Manufacturing PMI dropped to 49.1, indicating contraction for the first time in nine months. Manufacturing output declined due to rising costs and supply shortages, with job cuts at the steepest rate in ten months. Input cost inflation reached its highest since April 2022, prompting significant price increases by companies. Despite challenges, manufacturers remain optimistic about future output growth, though confidence has waned due to geopolitical concerns.

- Indonesia's Consumer Price Index (CPI) increased by 2.42% year-on-year in April, falling short of the 2.7% market expectation and down from 3.48% previously.  
- The trade surplus in March expanded to $3.32 billion, exceeding the expected $2.11 billion and increasing from $1.28 billion, despite a 3.1% year-on-year decline in exports.  
- The S&P Global Manufacturing PMI dropped to 49.1 in April, indicating a contraction in the manufacturing sector, with the fastest decline in output since May 2022, attributed to rising material costs and supply shortages.

S&P Global

Indonesia Apr CPI Rises 2.42% YoY, Below Forecast; Mar Exports Turn Down 3.1% YoY, Miss; Apr Manufacturing PMI Contracts for First Time in Nine Months

Always look for the sectors/countries that have the bad news coming out. Indonesia is one area to watch - how do we trade this story? EIDO is one ETF that we can gain exposure in a safe way. Do not go crazy buying too big but slowly ease in as the story develops.

ISHRS MSCI Indonesia(EIDO.US)

Indonesia plans to tighten state control over commodity exports

ASEAN nations return to fossil fuels, back away from net zero plans

Southeast Asia faces $200B power demand surge amid grid risks

Indonesia rupiah slumps to new low as high oil prices fuel inflation fears

Week Ahead for FX, Bonds: Fed Minutes in Focus as -2-