IHSG Opens Higher by 0.17% Ahead of Fed Decision
The Jakarta Composite Index (IHSG) opened higher on Wednesday (29/7/2026) trading, amid a wait-and-see attitude from market participants ahead of a series of important global economic agendas this week. Based on data from the Indonesia Stock Exchange (BEI) as of 09.00 WIB, the IHSG stood at 6,141.16, up 0.17% from the previous close of 6,130.59. Transaction value was recorded at approximately Rp 109 billion, with trading volume reaching 247.24 million shares in 24,783 transactions. A total of 212 stocks rose, 85 stocks fell, while 316 stocks remained stagnant, indicating that selling pressure had begun to ease at the start of the session.
The movement of the Jakarta Composite Index today is predicted to be overshadowed by high volatility, due to a combination of domestic sentiment and pressure from global markets. Market participants are currently bracing for the release of the US central bank’s interest rate decision. The majority of the market expects The Federal Reserve to hold its benchmark interest rate steady at 3.75%, following Fed Chair Kevin Warsh’s view that the current rise in energy prices is driven more by short-term supply disruptions than structural inflationary pressures. Nevertheless, the primary focus of global investors remains on the press conference and the direction of future monetary policy under Warsh’s leadership. The possibility of a rate hike remains open, with the probability previously recorded at nearly 40% according to the CME FedWatch tool.
Domestically, investor attention is focused on the results of the Financial System Stability Committee (KSSK) meeting, which for the first time included the presence of the Danantara Investment Management Agency (BPI Danantara). Finance Minister and KSSK Chair Purbaya Yudhi Sadewa stated that Danantara’s presence was limited to providing input to enrich business sector information, while decision-making authority remains with the four core members of the KSSK to ensure financial system stability. Another domestic sentiment comes from the government’s anticipatory steps to address potential salary payment issues for civil servants (ASN) in several regions due to cuts in regional transfers (TKD). The Ministry of Finance is currently mapping up to 490 affected regions and preparing options for additional funding or a budget top-up scheme.
Amidst these macroeconomic dynamics, the national banking sector reported very solid fundamental performance throughout the first half of 2026. PT Bank Mandiri Tbk (BMRI) recorded a net profit surge of 24.4% to Rp 30.4 trillion, PT Bank Central Asia Tbk (BBCA) posted a profit of Rp 29.5 trillion, and PT Bank Tabungan Negara Tbk (BBTN) recorded the highest profit growth at 40.8%. This strong financial performance is expected to act as a catalyst to cushion pressure and drive the IHSG’s movement today. Meanwhile, Asia-Pacific stock markets opened higher on Wednesday as investors awaited the US central bank’s interest rate decision. In South Korea, the Kospi index surged 1.95%, while in Japan, the Nikkei 225 rose 0.52%. West Texas Intermediate (WTI) crude oil prices jumped around 4% to approximately US$82 per barrel after US Central Command (CENTCOM) stated that Iran’s Revolutionary Guard Corps (IRGC) launched several ballistic missiles in a surprise attack against US forces based in the Middle East. According to CENTCOM, all missiles were successfully intercepted.