Weak Retail Sales Hit Stocks and Rupiah

RRI.CO.ID, Jakarta - Indonesia’s stock market experienced sharp volatility during today’s trading session on Thursday, 11 June 2026. The benchmark index rose to 6,010 at its highest point before falling to 5,784.

The index later closed down 0.28 percent at 5,886. Major Indonesian banks, mining companies, and industrial firms were among the biggest drawbacks on the market.

The market was eventually pushed lower by weakness across most Asian stock exchanges. Earlier attempts to hold up the pressure were not successful.

The decline was also accompanied by a weaker Indonesian rupiah. The currency closed at 17,975 rupiah per US dollar.

During trading hours, the rupiah briefly touched the psychological level of 18,000 per US dollar. This signal growing pressure on the local currency.

Both the stock market and the rupiah were affected by disappointing retail sales data released for April. Indonesia’s retail sales fell by 3.7 percent year-on-year.

The contraction in retail sales suggests weakening consumer purchasing power. Lower consumer spending is still a concern for the economy.

Meanwhile, global gold prices showed little movement. Gold traded at around US$4,090 per troy ounce, equivalent to about 2.37 million rupiah per gram.

Gold prices were almost unchanged compared with the morning session. During the day, gold briefly rose above US$4,100 per troy ounce before easing back.

Writer: Gunawan Benjamin (Economist, Islamic University of North Sumatra)