Breaking: IHSG Jumps Over 1% Right from the Morning

Jakarta, CNBC Indonesia - The Composite Stock Price Index (IHSG) began trading in the green zone this morning on Monday (4 May 2026). The IHSG rose 32.11 points or 0.46% to the level of 6,988.91. There were 303 stocks in the green, 102 down, and 288 unchanged. The transaction value reached Rp 596 billion, involving 6.47 billion shares in 63,706 transactions. Market capitalisation was recorded at Rp 12,495 trillion. Just a few minutes after the market opened, the IHSG surged more than 1%. By 9:04 WIB, the IHSG had risen 77.18 points or 1.11% to 7,033.98. The most actively traded stocks included GOTO, BBCA, BUMI, and BBRI. Several domestic and international news items are expected to be the main sentiments for trading in the Indonesian stock market. This week opens with a series of data releases directly impacting key market pulses, from domestic inflation and trade balance to US labour market indicators. The direction of risky assets will heavily depend on whether price pressures ease and whether the global economy remains strong enough to withstand high interest rates. At the same time, high energy prices and global supply chain disruptions keep cost pressures alive. This situation leads market participants to hold positions while awaiting certainty from incoming data one by one. The Central Statistics Agency is scheduled to release March inflation and trade balance data on Monday (4 May). Indonesia’s inflation is expected to rise monthly in April 2026, partly due to a spike in non-subsidised fuel prices. The market consensus gathered by CNBC Indonesia from 13 institutions estimates that the Consumer Price Index (CPI) for April 2026 will see monthly inflation of 0.43% (month-to-month/mtm) with a median annual inflation of 2.72% (year-on-year/yoy). Today, S&P Global will also announce Indonesia’s manufacturing activity for April 2026. The Purchasing Managers’ Index (PMI) released by S&P Global last month showed Indonesia’s PMI at 50.1 in March 2026. This figure is the lowest since July 2025 or the last eight months. Although slowing, Indonesia’s PMI remains in the expansion phase for eight consecutive months. The PMI uses 50 as the starting point. Above 50 means the business world is in an expansion phase, while below indicates contraction. The Central Statistics Agency (BPS) will announce first-quarter 2026 economic growth data on Tuesday (5 May 2026). This data is crucial in assessing how resilient Indonesia’s economy is against global shocks in the early part of the year. First-quarter 2026 economic growth is expected to remain high due to the impact of Eid al-Fitr, Ramadan, and the long holiday. As a note, Ramadan is the peak consumption period in Indonesia. In the first quarter of 2025, Indonesia’s economy grew 4.87% year-on-year (yoy), slowing from the same period the previous year and recording a 0.98% contraction compared to the fourth quarter of 2024 (quarter-to-quarter). Meanwhile, Asian stock markets moved variably at the start of this week. South Korean stocks hit a new record, continuing a historic monthly rally after April. Investors are still weighing tensions between Iran and the United States (US), as well as US plans to reopen shipping lanes in the Strait of Hormuz. Citing CNBC International, the US is still working to free ships stranded due to the closure of the Strait of Hormuz since the start of the Iran war. That statement was made by US President Trump in his post on Truth Social on Sunday (3 May 2026). That effort is called “Project Freedom”, which is planned to start on Monday Middle East time. Its main focus is to evacuate civilian ships flagged by countries not involved in the conflict from the disputed waters so they can continue their business activities freely and smoothly. “US military support for Project Freedom will include guided-missile destroyers, more than 100 land and sea-based aircraft, multi-domain uncrewed platforms, and 15,000 military personnel,” said US Central Command shortly after Trump’s announcement, cited on Monday (4 May 2026). For information, oil prices fell after the “Project Freedom” announcement. The July West Texas Intermediate (WTI) futures contract fell 0.59% to US$101.34 per barrel at 19:38 ET. The Brent crude oil futures contract fell 0.27% to US$107.88 per barrel. Previously, the Hang Seng Hong Kong index futures contract was at 25,992, compared to its last close at 25,776.53. Meanwhile, Australia’s S&P/ASX 200 index slightly weakened. Markets in Japan and China are closed for national holidays. US stock futures traded near flat on Sunday night. S&P 500 futures rose 0.1% and Nasdaq 100 futures rose 0.1%. Futures tied to the Dow Jones Industrial Average rose 100 points, or 0.2%. On Friday, both the S&P 500 and Nasdaq Composite rose to new intraday and closing all-time highs. The broad market index rose 0.29%, while the tech-dominated Nasdaq rose 0.89%. However, the Dow went against the trend, falling 152.87 points, or 0.31%.