IDX JCI Strengthens Alongside Wall Street, While Asia-Pacific Markets Plummet Due to Middle East Conflict
Jakarta, VIVA – The Indonesia Stock Exchange (IHSG) opened stronger by 44 points, or 0.83 per cent, at the 5,386 level at the start of trading on Tuesday, 9 June 2026.
Fanny Suherman, Head of Retail Research at BNI Sekuritas, predicts that the IHSG will test resistance levels and faces a risk of correction during today’s session. “The IHSG has the potential to test resistance at 5,500; if it fails, the index remains open to further corrections as long as the Rupiah continues to weaken,” Suherman stated in his daily research on Tuesday, 9 June 2026.
He noted that stock markets across the Asia-Pacific region fell collectively during Monday’s trading, following reports of missile salvos launched from Iran towards Israel, which threaten the stability of the Middle East ceasefire agreement. Geopolitical sentiment has further weighed on markets after Wall Street experienced massive selling in the Nasdaq index over the previous weekend.
In the regional area, South Korea’s market led the decline, with the Kospi index dropping sharply by 8.3 per cent and the Kosdaq index plunging by more than 9 per cent. Meanwhile, Japan’s Nikkei 225 slipped by 3.8 per cent and the Topix corrected by 2.4 per cent. Additionally, Hong Kong’s Hang Seng index weakened by 1.2 per cent, Taiwan’s Taiex fell by 3.5 per cent, and China’s CSI 300 decreased by 2.1 per cent. Conversely, Australia’s ASX 200 closed due to a national holiday.
“Support for the IHSG lies at the 5,000-5,150 level, while resistance is within the 5,400-5,500 range,” he added.
For context, most Wall Street indices rose during Monday’s trading, driven by a rebound in semiconductor stocks following the previous weekend’s sell-off. However, investors remain focused on the developments of the ceasefire between Iran and Israel. The S&P 500 index rose by 0.30 per cent, and the Nasdaq Composite strengthened by 0.86 per cent, while the Dow Jones Industrial Average weakened by 0.16 per cent.
Despite the gains in the stock market, investor attention remains fixed on the Middle East conflict. Tensions escalated after Iran launched missile attacks on Sunday in response to Israeli strikes on Southern Lebanon, raising concerns regarding the sustainability of the ongoing ceasefire efforts. Israel subsequently responded with strikes against several of Iran’s strategic defence systems. However, US President Donald Trump stated that Iran and Israel are still working to reach a ceasefire as soon as possible.