ASEAN Macro Daily(Beta Mode)
Rupiah Weakens Amid Steady Indonesian Inflation
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| JCI | 6,130.19 | -1.23% |
| SET | 1,553.36 | +0.20% |
| KLCI | 1,699.02 | -0.55% |
| PSEi | 5,963.24 | -0.77% |
| STI | 5,028.80 | -0.82% |
| USD/IDR | 17,785.00 | +0.13% |
| USD/THB | 32.62 | +0.37% |
| USD/MYR | 3.96 | +0.25% |
| USD/PHP | 61.50 | +0.33% |
| USD/SGD | 1.28 | -0.03% |
| Brent Crude | 92.92 | -6.69% |
| Gold | 4,490.40 | -0.22% |
| Bitcoin | 74,498.00 | -1.75% |
| Indonesia 10Y Govt Yield | - | - |
| Thailand 10Y Govt Yield | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Crude 3M | Type: market_hloc | USD/bbl: 92.92 (2026-05-27) | Range: 72.48–118.3 | Trend(6pt): 72.48,112.2,99.36,114.4,99.58,92.92
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Trade Balance | 3,320m | - | 00:00 |
| Inflation Rate Year-over-Year | 2.42 | - | 00:00 |
- Indonesia April inflation printed 2.42% y/y with USD/IDR consolidating at 17,785 amid external pressures flagged by UOB and MUFG.
- Regional equities closed mixed: JCI fell 1.23% to 6,130.19 while SET rose 0.20% to 1,553.36.
- Brent crude plunged 6.69% to 92.92 as OPEC+ signals weighed on energy prices.
Yesterday's Recap
Indonesia dominated ASEAN moves as April inflation came in at 2.42% y/y, leaving the Rupiah under modest pressure with USD/IDR rising 0.13% to 17,785. Finance Minister Sri Mulyani stated no budget recalculation is needed despite the currency trading past 17,800. UOB and MUFG highlighted persistent external headwinds for the Rupiah while noting reversal risks remain contained.
JCI dropped 1.23% to 6,130.19 on thin volumes, whereas SET gained 0.20% to 1,553.36 and KLCI eased 0.55% to 1,699.02. PSEi fell 0.77% to 5,963.24 and STI declined 0.82% to 5,028.80. Broader news included a Philippine bank warning that prolonged Middle East tensions could hit growth, while Malaysia introduced a 10% import duty on select gold bars.
Sri Lanka raised its policy rate 100 bp to 8.75% to counter oil-shock pressures.
The Day Ahead
Indonesia will release trade balance and inflation data on 2 June, both carrying medium market impact. No other ASEAN data prints are scheduled for the immediate session. Traders will monitor Rupiah flows ahead of the releases, particularly any BI intervention signals.
Regional equity volumes are expected to stay light into the US Memorial Day holiday. MAS and BNM are not due to meet this week.
Other Economic Notes
Supply-chain shifts continue to favor Vietnam and Malaysia, with electronics exports showing resilience in both economies. Thailand’s tourism recovery slowed in April, missing consensus arrivals and pressuring SET hospitality names. Remittance-dependent Philippines faces downside risks from any extended Middle East conflict according to local bank analysis.
Commodity exporters in Indonesia remain supported by steady coal and palm-oil shipments despite softer domestic demand. Thailand plans to raise about $5 billion through promissory notes and term loans to fund measures easing living costs.
Global Macro News
Sri Lanka raised its policy rate 100 bp to 8.75% to counter oil-shock pressures hitting Asian currencies. Global risk sentiment stayed cautious with Brent crude falling sharply on OPEC+ supply signals. <i>↓ p.2</i>
