IHSG Opens Higher Supported by MSCI Report, Wall Street and Asian Markets Rally

The Composite Stock Price Index (IHSG) opened 14 points, or 0.23 percent, higher at 6,388 on Thursday’s trading session. Head of Retail Research Analyst, Fanny Suherman, predicted the IHSG would continue to strengthen following the announcement that Indonesia remains in the MSCI emerging market index. “After the MSCI announcement, the IHSG has the potential to continue strengthening. As long as it stays above 6,300, the medium-term target is 7,300,” Fanny stated in her daily research note.

The majority of Asian markets rallied on Wednesday, led by gains in South Korea. The rise was driven by optimism regarding AI investment prospects, as several US technology companies reported strong demand for AI infrastructure. Japan’s Nikkei 225 rose 0.8 percent and the Topix gained 0.9 percent. South Korea’s KOSPI surged 3.7 percent, with Samsung Electronics soaring 6.7 percent and SK Hynix jumping 5.5 percent. The rally was supported by positive capital expenditure plans and outlooks from AI cloud computing firm CoreWeave and Super Micro Computer, reinforcing confidence that the AI investment boom still has room to grow.

Meanwhile, Asian currencies moved in a limited range as rising oil prices increased pressure on energy-importing nations. Wall Street also closed higher on Wednesday, driven by optimism over AI business prospects after several AI infrastructure companies reported results that exceeded expectations. Positive sentiment was further bolstered by US inflation data indicating relatively controlled price pressures. The S&P 500 rose 0.26 percent and the Nasdaq gained 0.54 percent, while the Dow Jones Industrial Average edged down 0.04 percent. Support for the IHSG is seen at 6,300-6,320, with resistance at 6,400-6,450.