IHSG Opens Higher, Poised to Extend Gains Following Wall Street and Asian Market Rally

The Jakarta Composite Index (IHSG) opened 18 points, or 0.30 percent, higher at 6,338 on Wednesday, 5 August 2026. Head of Retail Research Analyst Fanny Suherman predicted the IHSG has the potential to continue its strengthening during today’s trading. “The IHSG has the opportunity to continue its rise today,” Fanny said in her daily research note on Wednesday. Asian stock markets moved higher in Tuesday’s trading, following a rally on Wall Street in the previous session. Meanwhile, oil prices remained near multi-week lows amid a lack of significant developments in the US-Iran conflict. Japan’s Nikkei 225 rose 0.32 percent, and the Topix gained 0.04 percent. South Korea’s KOSPI surged 1.62 percent, while the KOSDAQ soared 5.9 percent. Hong Kong’s Hang Seng fell 0.6 percent and Taiwan’s Taiex weakened 0.6 percent. On the other hand, Australia’s ASX 200 added 1.4 percent and Malaysia’s FTSE KLCI rose 0.4 percent. “IHSG support is at the 6,220-6,260 level, while resistance is in the 6,360-6,400 range,” she stated. For context, Wall Street indices closed sharply higher on Tuesday, with the Dow Jones Industrial Average and S&P 500 hitting all-time highs, supported by solid corporate earnings reports and a slump in oil prices. The Dow Jones jumped 1.71 percent, the S&P 500 surged 1.79 percent, and the Nasdaq Composite increased 2.59 percent. The rally on Wall Street was driven by market optimism over a strong earnings season. Sentiment was also boosted by weakening oil prices following hopes for a diplomatic resolution to the Iran conflict. US Treasury Secretary Scott Bessent stated that Washington is in dialogue with Iran and there is a possibility of reaching an agreement to reopen the Strait of Hormuz. These hopes pushed WTI crude prices down 5.69 percent to US$75.77 per barrel, while Brent crude weakened 5.26 percent to US$79.36 per barrel.