IDX JCI Opens Stronger Following Wall Street Gains Despite Potential Correction, Asian Markets Mixed

The Indonesia Stock Exchange (IHSG) opened stronger by 33 points, or 0.54 per cent, at the 6,219 level at the start of trading on Friday, 31 July 2026. Fanny Suherman, Head of Retail Research Analyst, predicts that the IHSG will test resistance during today’s session. “The IHSG has the opportunity to continue rising towards strong resistance in the 6,200-6,300 range. If it fails to break above 6,300 convincingly, a correction is possible,” Suherting said in his daily research report on Friday.

Asian markets moved diversely during Thursday’s trading. Japan’s Nikkei 225 rose by 0.7 per cent, while the Topix fell by 0.5 per cent. Meanwhile, Hong Kong’s Hang Seng rose by 0.2 per cent, Taiwan’s Taiex dropped by 0.3 per cent, China’s CSI 300 weakened by 1.1 per cent, and Australia’s ASX 200 declined by 0.8 per cent. In South Korea, the Kospi index weakened by 1.2 per cent and the Kosdaq fell by 2.7 per cent after an initial slight gain. This occurred after the government increased stimulus for leveraged ETF restrictions following a sharp decline on Wednesday. Conversely, the Straits Times fell by 0.7 per cent, while Malaysia’s FTSE rose by 0.3 per cent.

Federal Reserve Chair Kevin Warsh stated that the decision to maintain interest rates is not a sign of central bank delay, and that the market will freely determine its own direction based on economic signals. Three out of the twelve voting officials at the Fed opposed interest rate hikes, highlighting ongoing concerns regarding inflation. The lack of updated policy guidance, combined with a divided committee, has left investors with less clarity regarding the future direction of interest rates. Suherman noted, “Support for the IHSG lies at the 6,050-6,130 level, while resistance is in the 6,200-6,300 range.”

For context, Wall Street indices closed significantly higher during Thursday’s trading. The rally was led by technology stocks, particularly Microsoft and semiconductor issuers, driving the Nasdaq to end a six-day losing streak. The Nasdaq Composite surged by 2.8 per cent, the Dow Jones Industrial Average jumped 1.19 per cent, and the S&P 500 strengthened by 1.7 per cent. These gains reversed the direction after Wall Street experienced heavy selling the previous day following the Fed’s decision to maintain benchmark interest rates.