JAKARTA - The Indonesian Stock Exchange (IDX) Composite Stock Price Index (JCI) on Wednesday moved up following the strengthening of the Asian and global stock exchanges.
The JCI opened 29.23 points or 0.41 percent to 7,086.34. Meanwhile, the group of 45 leading stocks or the LQ45 Index rose 3.48 points or 0.51 percent to 685.06.
"Based on technical analysis, we see the JCI has the potential to strengthen limited with support and resistance of 6,950-7,160," said Associate Director of Research and Investment Pilarmas Investindo Sekuritas Maximilianus Nico Demus alias Nico in his study in Jakarta, Wednesday.
From abroad, geopolitical tensions have begun to decline, with the United States (US) trying to reduce the escalation, and starting to focus on protecting cargo ships crossing the Strait of Hormuz.
Although tensions have eased, an agreement to open the Strait of Hormuz is still far from reality. To this day, there are more than 1,550 commercial vessels trapped in the Strait of Hormuz, which will certainly be a concern for global market players.
On the other hand, the reduction in tension between the US and Iran has caused world oil prices to fall again.
From the US, the ISM Services Index data decreased from the previous 54 to 53.6 in April 2026, while for the ISM Services Prices Paid was at the level of 70.7, indicating that the cost of raw materials for production is still high, which will affect the US inflation in the future.
Then, US JOLTS Quits Level data rose from the previous 3,046,000 to 3,171,000, or rose from the previous 1.9 percent to 2 percent.
Meanwhile, US JOLTS Layoffs Level data also rose from the previous 1,714,000 to 1,867,000 or rose from the previous 1.1 percent to 1.2 percent, in line with the still many private companies that have begun to slow down their expansion phase amid the war situation.
From within the country, Indonesia's economy is reported to have grown 5.61 percent year on year (yoy) in the first quarter of 2026. Then, the Consumer Price Index (CPI) inflation was maintained at 2.42 percent (yoy) in April 2026.
Meanwhile, the State Budget (APBN) recorded a deficit of IDR 240.1 trillion or 0.93 percent of GDP as of March 31, 2026.
As an effort to maintain the rupiah exchange rate, Bank Indonesia (BI) Governor Perry Warjiyo conveyed seven strategies, including strengthening interventions in the domestic and global foreign exchange market, attracting foreign capital flows through SRBI, buying SBN in the secondary market, and maintaining banking liquidity. remain loose.
In addition, BI has also tightened the purchase of foreign exchange without underlying, encouraged the use of local currency in international transactions, strengthened intervention in the offshore market, and increased supervision of banking and corporate foreign exchange activities.
Nico assessed that BI's policy is a combination of defensive and stabilization measures that have the potential to effectively maintain the rupiah in the short term, especially through foreign exchange market interventions and dollar demand control so that volatility can be suppressed.
"If this effort still does not bear fruit, we hope that BI will provide new ammunition to keep the rupiah at least stable, not full of volatility like it is now," said Nico.
On Tuesday (5/5/2026) yesterday, European stock exchanges moved variably, including the Euro Stoxx 50 which strengthened 1.83 percent, the FTSE 100 index of the United Kingdom weakened 1.40 percent, the DAX index of Germany strengthened 1.71 percent, and the CAC index of France strengthened 1.08 percent.
Meanwhile, the US stock exchange on Wall Street was compact on Tuesday (5/5/2026), including the S&P 500 index which rose 0.81 percent to 7,259.22, the Nasdaq index which rose 1.31 percent to 28,015.06, and the Dow Jones index which rose 0.73 percent to 49,297.25.
Asian regional stock exchanges this morning, including the Nikkei index, strengthened by 228.20 points or 0.38 percent to 59,514.12, the Shanghai index strengthened by 42.54 points or 1.03 percent to 4,154.12, the Hang Seng index strengthened by 130.39 points or 0.50 percent to 26,025.50, and the Strait Times index strengthened by 3.68 points or 0.07 percent to 4,923.95.
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