Emerging Markets: Indonesia shares outperform as Korea, Taiwan drag regional stocks

SK hynix

06/10/2026 06:38

Indonesian equities jump 1%, on pace for 3-day winning run
Shares of GoTo climb 10%
Taiwan dollar appreciates for fifth consecutive day
By Nikita Maria Jino
Oct 6 (Reuters) - Indonesian stocks climbed more than 1% on Tuesday, extending their rebound and outperforming regional markets, while losses in South Korea and Taiwan weighed on the broader emerging Asia equity index.    
The Jakarta Composite Index .JKSE rose as much as 1.2% to 6,193.543, extending its rebound into a third consecutive session after a 3.3% drop last week. 
The rebound comes after a new exchange rule removing the minimum share price took effect last week, a move aimed at improving liquidity and price discovery.
An Indonesian financial regulator official said on Monday that the price discovery mechanism had improved following the change last week.
"Indonesia's rebound looks partly like bargain-hunting after last week's sharp losses, helped by lower oil prices and reduced expectations of an October Fed hike. Tuesday's gains across banking, infrastructure and property suggest participation beyond commodity stocks," said Glenn Yin, director of research at ACCM.
Bank Mandiri (Persero) BMRI.JK gained as much as 1.2% to a late September peak, while ride-hailing giant PT GoTo Gojek Tokopedia GOTO.JK surged as much as 10.3%.
Elsewhere, South Korean shares .KS11 fell about 1% as trading resumed after a holiday, pressured by losses in chipmakers Samsung Electronics 005930.KS and SK Hynix 000660.KS. 
Taiwan's benchmark .TWII briefly touched a record high before turning lower, although TSMC 2330.TW edged up 0.2%.
The declines in South Korea and Taiwan weighed on MSCI's broad index of emerging Asia equities .MIMS00000PUS, which slipped 0.1%.
Currencies across the region traded flat, as the US dollar held its ground while the euro languished near 17-month lows. USD/
The Taiwan dollar TWD=TP was an outlier, strengthening as much as 0.3% to a near two-week peak.
"The five-session appreciation suggests the currency is benefiting from the semiconductor rally, although equity gains alone do not establish sustained foreign inflows. Near-term support could continue if AI earnings expectations remain firm and overseas investors keep adding exposure," ACCM's Yin said.
Elsewhere, the Indian rupee INR=IN depreciated to its lowest point since July, ahead of the central bank's interest rate decision on Wednesday.
The Reserve Bank of India is widely expected to raise rates by 25 basis points at its meeting on Wednesday, according to a Reuters poll, with markets also focusing on the central bank's forward guidance.
The MSCI EM currencies gauge .MIEM00000CUS was flat in Asian hours of trade.

HIGHLIGHTS:    
** Philippine annual inflation accelarates to 7.2% in September
** Thai headline inflation rises to 2.8% in September, ahead of a forecast rise of 3.06% per a Reuters poll
** Indonesian authorities in talks to allow US dollar transactions at new commodity bourse

Asia stock indexes and currencies at 0418 GMT




COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.09
-0.89
.N225
+0.78
+40.04
China
CNY=CFXS
-
+4.22
.SSEC
0.31
-3.19
India
INR=IN
-0.07
-6.74
.NSEI
0.22
-13.49
Indonesia
IDR=
-0.06
-6.90
.JKSE
1.13
-28.44
Malaysia
MYR=
+0.02
-0.69
.KLSE
0.46
-2.43
Philippines
PHP=
-0.35
-6.34
.PSI
-0.94
-6.01
S.Korea
KRW=
-0.07
+7.22
.KS11
-1.13
64.32
Singapore
SGD=
+0.01
+0.51
.STI
-0.13
21.76
Taiwan
TWD=TP
+0.09
-1.01
.TWII
-0.09
71.47
Thailand
THB=TH
-0.01
-6.56
.SETI
0.22
25.42

 (Reporting by Nikita Maria Jino in Bengaluru; Editing by Sherry Jacob-Phillips)
 ((Nikita.Jino@thomsonreuters.com;))