IHSG Opens Lower Tracking Wall Street, Asia-Pacific Markets Mostly Gain

Jakarta – The Jakarta Composite Index (IHSG) opened down 67 points, or 1.09%, at 6,153 on Thursday trading. Head of Retail Research at BNI Sekuritas, Fanny Suherman, predicted the IHSG would likely move sideways with a tendency to weaken. “We estimate the IHSG today will be sideways cenderung melemah,” she said in her daily research note on Thursday. She noted that most Asia-Pacific bourses closed higher on Wednesday, with the South Korean stock market leading the gains. Market sentiment remains influenced by geopolitical developments and investor response to the latest negotiations between the US and Iran. South Korea’s Kospi index rose 1.6% and the Kosdaq surged 1.3%. In Japan, the Nikkei 225 gained 0.7% and the Topix added 0.55%. Australia’s S&P/ASX 200 increased 0.55% and Taiwan’s Taiex edged up 0.15%, while Hong Kong’s Hang Seng weakened 0.74%. From the US, Donald Trump indicated he is open to sharing details of the latest US-Iran peace deal with Congress. The statement came after several members of Congress requested the opportunity to review the agreement before it is formally ratified. The preliminary deal would extend the ceasefire by 60 days. “IHSG support is at 6,130-6,200 while resistance is in the 6,250-6,276 range,” she added. Wall Street indices fell on Wednesday, while US government bond yields surged after markets digested the outcome of the Federal Reserve’s first meeting under new Chair Kevin Warsh, who was perceived as more hawkish than expected. The Dow Jones Industrial Average dropped 0.98%, the S&P 500 fell 1.21%, and the Nasdaq Composite declined 1.34%. Technology stocks including Microsoft, Meta Platforms, Alphabet, and Amazon weakened, with sentiment also weighed down by a decline in SpaceX shares.