IHSG Opens Higher, Potentially Moving Sideways as Asian and Wall Street Markets Mostly Fall
The IDX Composite (IHSG) opened stronger by 36 points, or 0.62 per cent, at the 5,932 level at the start of trading on Monday, 29 June 2026.
Fanny Suherman, Head of Retail Research Analyst, predicts that the IHSG has the potential to move sideways during today’s trading session. “The IHSG is likely to move sideways within the 5,850-6,000 area,” Suherman stated in his daily research report on Monday, 29 June 2026.
He noted that most Asian markets declined during trading last Friday, as big-cap chip stocks surrendered some of their gains following significant rises on Thursday. The Nikkei 225 in Japan fell by 4.15 per cent and the Topix dropped by 1.32 per cent. Additionally, Hong Kong’s Hang Seng weakened by 1.76 per cent, Taiwan’s Taiex fell by 3.64 per cent, and South Korea’s Kospi corrected by 5.81 per cent.
In contrast, Australia’s ASX 200 rose by 0.18 per cent, while the Straits Times fell by 0.52 per cent and the FTSE Malaysia strengthened by 0.24 per cent. These movements were characterised by high volatility within the technology sector.
Recent stock market fluctuations highlight growing investor concerns regarding whether the technology giants that have supported market gains can continue to justify the high expectations embedded in their share prices. Concerns regarding AI expenditure drove sharp movements in chip stocks over the weekend.
“Support for the IHSG is at the 5,750-5,850 level, while resistance is in the 6,000-6,100 range,” he added.
For context, most Wall Street indices were under pressure during trading last Friday. The Nasdaq Composite weakened by 0.24 per cent, the S&P 500 dipped slightly by 0.05 per cent, and the Dow Jones Industrial Average decreased by 0.09 per cent.
The greatest pressure originated from chip stocks, following reports from The New York Times that OpenAI is considering delaying its IPO until next year. This delay is attributed to the weakening performance of SpaceX shares following its market debut and the high volatility of AI-based stocks.