DBS Group analysts said Indonesian equity valuations should recover if the rupiah stabilizes, noting FX is the key driver of market sentiment. They flagged that concerns over a narrowing trade surplus, elevated oil prices and Indonesia’s new export plans have pressured the rupiah and equities. DBS said lower oil, easing geopolitical tensions and policy support from Bank Indonesia could help steady the rupiah. The bank cut its end‑2026 Jakarta Composite Index target to 8,000 from 9,500, citing un

DBS Group analysts said Indonesian equity valuations should recover if the rupiah stabilizes, noting FX is the key driver of market sentiment. They flagged that concerns over a narrowing trade surplus, elevated oil prices and Indonesia’s new export plans have pressured the rupiah and equities. DBS said lower oil, easing geopolitical tensions and policy support from Bank Indonesia could help steady the rupiah. The bank cut its end‑2026 Jakarta Composite Index target to 8,000 from 9,500, citing uncertainty from a weaker rupiah.