IHSG Opens Higher Amid Correction Fears as Asian Markets Weaken and Wall Street Hits All-Time High

IHSG opened 7 points or 0.12% higher at 6,137 on Friday, 29 May 2026.

Fanny Suherman, Head of Retail Research at BNI Securities, predicted that IHSG may continue to correct today.

“IHSG is likely to continue its correction today,” Fanny said in her daily research report on Friday, 29 May 2026.

She noted that Asian markets weakened on Thursday’s trading. Japan’s Nikkei 225 fell 0.47%, Topix declined 0.41%, Hong Kong’s Hang Seng dropped 1.27%, and Taiwan’s Taiex slid 1.40%.

South Korea’s Kospi fell 0.53%, Australia’s ASX 200 decreased 1.43%, while mainland China’s markets rose, with CSI 300 and Shanghai Composite up 0.12%. Meanwhile, Singapore’s Straits Times Index fell 0.79% and Malaysia’s FTSE Malaysia declined 0.83%.

On the other hand, the Asian market weakness occurred amid conflicting signals from the US and Iran regarding prospects for a ceasefire agreement to end the conflict.

US President Donald Trump stated he was dissatisfied with negotiations with Iran, dampening hopes of an imminent breakthrough. Trump also asserted that no single nation would control the Strait of Hormuz.

“Support for IHSG is at 6,000-6,070, while resistance is in the 6,200-6,300 range,” she added.

Wall Street indices collectively hit all-time highs on Thursday, driven by a technology stock rally and market optimism over an extended ceasefire between the US and Iran.

The S&P 500 rose 0.58%, the Nasdaq Composite surged 0.91%, and the Dow Jones Industrial Average gained 0.05%. Technology stocks strengthened after cloud data firm Snowflake provided strong performance forecasts, reigniting optimism around artificial intelligence trends.

Markets further strengthened after Axios reported that US and Iranian negotiators had agreed on a memorandum of understanding (MoU) to extend the ceasefire for 60 days and continue nuclear programme talks. However, the deal still awaits approval from US President Donald Trump.