According to CNBC, Indonesia's Jakarta Stock Exchange Composite Index has entered bull-market territory after rebounding more than 10% from its early-June low, helped by attractive valuations, intervention from local regulators and a gradual return of foreign investors. The index remains down about 29% year to date, according to LSEG data, while S&P Global Ratings reaffirmed Indonesia's BBB sovereign rating with a stable outlook a few weeks ago.
Mohit Mirpuri of SGMC Capital said S&P's affirmation removed an important macro overhang, and Gareth Leather of Capital Economics said MSCI's decision to hold off on downgrading Indonesia to frontier-market status was a big relief that helped stop panic selling. Liza Camelia of Kiwoom Sekuritas Indonesia said Indonesian equities had become too cheap to ignore after months of heavy selling, while Jeemin Bang of Moody's Analytics said tighter free-float and ownership-disclosure rules were aimed at easing thin liquidity, transparency and concentration concerns.
Indonesia stocks enter bull market after June trough
2026-07-28 03:58:59
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