Foreign Exchange Reserves in Focus, Fed Minutes Shadow Rupiah and IHSG

The Indonesian financial market ended with mixed results in the final trading session on Tuesday (6/10/2026). The stock market and the Rupiah strengthened, while Government Securities (SBN) remained stagnant.

Market sentiment was influenced by the ongoing conflict in the Middle East and the release of domestic and international economic data, which remains difficult to predict. Indonesian financial markets are expected to show unified strength in today’s trading.

The Jakarta Composite Index (IHSG) ended Tuesday’s trading in the green zone, closing at 6,192.93, up 74.07 points or 1.21%. The index opened at 6,139.13 and hit an intraday low of 6,120.24 before gradually climbing to a peak of 6,216.44. Towards the end of the session, the index underwent a slight correction from its peak but remained in positive territory.

In terms of trading activity, transaction volume was recorded at 468.95 million lots, with a transaction value of Rp10,970.84 billion, or approximately Rp10.97 trillion. Regarding foreign trading, the all-market segment experienced a net foreign outflow of Rp629.87 billion, while the regular market recorded a net foreign outflow of Rp597.49 billion. Consequently, year-to-date since the beginning of 2026, the all-market segment has seen a net foreign outflow of Rp82.73 trillion, while the regular market has seen an outflow of Rp109.45 trillion.

The drivers for the IHSG’s rise were the energy sector, which surged by 4.14%, followed by the technology sector up 2.7%, and the basic materials sector up 2.2%. Key stocks driving the IHSG included PT Bayan Resources Tbk (BYAN), PT Amman Mineral Internasional Tbk (AMMN), PT Mora Telematika Indonesia Tbk (MORA), PT DCI Indonesia Tbk (DCII), and PT GoTo Gojek Tokopedia Tbk (GOTO). Conversely, the index was pressured by PT Bank Central Asia Tbk (BBCA), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Barito Renewables Energy Tbk (BREN), PT Capital Financial Indonesia Tbk (CASA), and PT Sinar Mas Multiartha Tbk (SMMA).

The Rupiah closed Tuesday’s trading in the green against the US Dollar, although its gains were trimmed after strengthening significantly at the start of the session. According to Refinitiv data, the Rupiah closed at Rp17,890/US, aslightappreciationof0.03. The currency began trading at Rp17,875/US$ but weakened to Rp17,915/US$ before recovering to end at Rp17,890/US$.

Meanwhile, the US Dollar Index (DXY), which measures the greenback’s strength against six major world currencies, was observed to weaken by 0.12% to 102.049 at 15:00 WIB. In the bond market, the 10-year yield remained stagnant at 7.167%, consistent with the previous trading day.

In the US stock market, Wall Street rallied during Tuesday’s trading (Wednesday early morning Indonesia time). The S&P 500 hit an all-time intraday record, driven by gains in major technology stocks and a decline in US Treasury yields. The index rose 0.58% to a record close of 7,818.93. The Dow Jones Industrial Average gained 253.38 points or 0.49% to 51,521.28, while the Nasdaq Composite rose 0.45% to close at a record 27,599.79. This tech-heavy index also touched new intraday highs.

The market rally was supported by rising chip manufacturer stocks; Marvell Technology jumped 5.8%, Advanced Micro Devices (AMD) rose nearly 3%, and Broadcom strengthened by 3.7%. “Everyone is saying the market is up. AI is where you need to be,” said Stephen Kolano, Chief Investment Officer at Integrated Financial Partners. He noted that investors currently tend to ignore inflation concerns, particularly regarding oil and diesel prices.

Oil prices closed relatively stable. Brent rose 0.26% to US$100.58 per barrel, while West Texas Intermediate (WTI) futures rose only 0.01% to US$89.44 per barrel. Kolano also assessed that interest rate levels are fundamentally appropriate. The 10-year US Treasury yield fell by 3 basis points to 5.281%, while the 30-year bond yield remained relatively unchanged at 5.655%.

Market participants are now shifting their attention to the minutes of the Federal Reserve’s September meeting, to be released on Wednesday. This document could provide a clearer picture of US central bank officials’ considerations regarding interest rate decisions. Market sentiment on Wednesday (7/10/2026) will be influenced by external developments and the direction of global monetary policy.