REPUBLIKA.CO.ID, JAKARTA \u2013 The Composite Stock Price Index (IHSG) of\nthe Indonesia Stock Exchange (BEI) opened trading on Monday morning up\n29.02 points or 0.41% to 7,158.51. Equity Analyst at PT Indo Premier\nSekuritas (IPOT) Brigita Kinari, in her analysis in Jakarta on Monday\n(27\/4\/2026), assessed that the IHSG\u2019s short-term movement tends to be\nmixed with a tendency towards consolidation or weakening.<\/p>\n
Pressure is triggered by global sentiment dominated by risk-off\nactions as well as rupiah exchange rate weakening that encourages\npotential foreign capital outflows. Technically, after last weekend\u2019s\nclose on Friday (24\/4\/2026) at the 7,129 level, the index is currently\nin an oversold area after closing the gap in the 7,308-7,346 range.<\/p>\n
This condition opens opportunities for a short-term technical\nrebound, although the room for strengthening is limited.<\/p>\n
\u201cThe market\u2019s focus is now on testing the crucial support in the\n7,100-7,150 range. If this level fails to hold, the IHSG has the\npotential to continue weakening to close the next gap in the 7,022-7,080\narea and test the psychological support around 6,917,\u201d said Brigita.<\/p>\n
From a global perspective, the failure to reach an agreement in\nnegotiations between the United States (US) and Iran prolongs\ngeopolitical uncertainty that could disrupt energy market stability.<\/p>\n
Without de-escalation, markets are beginning to anticipate potential\ntightening of global energy supply that could keep prices high. This\ncondition risks holding back the decline in global inflation and\nlimiting room for monetary policy easing in the short term.<\/p>\n
In addition, Brigita explained that expectations for the direction of\nUS central bank (The Federal Reserve) policy have shifted more hawkish\nin line with high energy-based inflation risks.<\/p>\n
Overall, global conditions are pushing investors to adopt a risk-off\nstance, with potential shifts of funds to safe haven assets such as the\nUS dollar and energy commodities as hedging instruments.<\/p>\n
Meanwhile, from the domestic side, two main catalysts affecting the\nmarket are the adjustment of non-subsidised fuel (BBM) prices and\nsignificant pressure on the rupiah exchange rate, which once hit a\nrecord low in the Rp17,315 per US dollar range.<\/p>\n
The increase in non-subsidised BBM prices, particularly Pertamax and\nDex Series since 18 April, is seen as reflecting a response to still\nhigh global energy prices while maintaining fiscal credibility.<\/p>\n
However, the market is beginning to anticipate ongoing impacts on\nshort-term inflation, especially in the transportation and logistics\nsectors, which could pressure consumer purchasing power and margins in\nconsumption-based sectors.<\/p>\n
On the other hand, pressure on the rupiah is prompting Bank Indonesia\n(BI) to strengthen its policy mix for stabilisation. In the Board of\nGovernors Meeting on 22-23 April 2026, BI decided to maintain the\nbenchmark interest rate at 4.75%.<\/p>\n
\u201cThis policy is accompanied by interventions in the foreign exchange\nmarket and optimisation of monetary instruments to dampen volatility.\nNevertheless, rupiah weakening still increases the risk of imported\ninflation and enlarges the potential for capital outflows, particularly\nfrom the bond market,\u201d said Brigita.<\/p>\n
She added that the combination of energy price adjustments and tight\nmonetary policy shows the authorities\u2019 defensive and pre-emptive stance\nin maintaining macroeconomic stability.<\/p>\n
Nevertheless, the market is expected to remain cautious in the short\nterm amid increasing sensitivity to inflation risks and external\nstability.<\/p>\n
\u201cGoing forward, the effectiveness of policy responses, especially in\ncontaining rupiah volatility without sacrificing growth momentum, will\nbe key in determining the direction of domestic market sentiment and the\nsustainability of foreign fund flows,\u201d she said.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/negative-sentiment-haunts-ihsg-stock-exchange-expected-to-weaken-1777261889", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }