Indonesian Stocks Rise Amid Market Volatility and Danantara Bond Delay

Indonesian stocks rose on Monday as investors looked ahead to a busy week of economic data releases, despite reports that Danantara had delayed its planned US dollar bond issuance.

The Jakarta Composite Index (JCI) gained 36 points, or 0.59%, to 6,272 in early trading, moving between 6,246 and 6,273.

Kiwoom Sekuritas Indonesia attributed the domestic sentiment to Danantara's decision to postpone its bond sale due to unfavorable conditions in the global bond market, including a jump in US Treasury yields that has pushed investors to demand returns in the high-6% range.

The government's efforts to establish the Indonesia International Financial Center (IIFC) or PFII are also seen as a positive development, with Kiwoom highlighting its potential to attract global capital amid rising geopolitical uncertainty and offering competitive regulations, legal certainty, and internationally recognized governance standards.