IHSG Opens Up 0.24% This Morning
The Indonesia Composite Index (JCI) opened stronger at the start of trading on Monday (6/7/2026), amidst positive sentiment from Asian stock markets which moved variably, and market participants awaiting the minutes of the Federal Reserve (The Fed) meeting.
Based on Indonesia Stock Exchange (IDX) data via IDX Mobile as of approximately 09:00 WIB, the JCI rose by 14.24 points or 0.24% to the level of 5,890.02.
Transaction value was recorded at Rp254.5 billion with a trading volume of 433.5 million shares across 49.6 thousand transactions. The IDX market capitalisation stands at approximately Rp10,320 trillion.
A number of important economic data points will determine the direction of global and domestic financial markets today and throughout the coming week.
From the United States, investors are awaiting service sector indicators and the Federal Reserve (The Fed) meeting minutes. Domestically, attention is focused on foreign exchange reserves, consumer confidence, and Bank Indonesia’s retail sales survey.
Meanwhile, OPEC+ has again agreed to increase oil production targets by 188,000 barrels per day (bpd) starting in August. The decision, announced on Sunday (5/7/2026), adds to the global supply amidst weakening oil prices and the recovery of exports through the Strait of Hormuz.
This increase follows additional quotas of the same magnitude in June and July. Cumulatively, seven core OPEC+ members have increased production targets by almost 800,000 bpd since April.
Nevertheless, production realisation has not yet fully increased due to the US-Israel-Iran conflict, which temporarily disrupted tanker traffic in the Strait of Hormuz. OPEC+ production was recorded to have fallen to 33.13 million bpd in May from 42.77 million bpd in February, before beginning to recover in June.
On the other hand, oil prices have returned to the range of US$72 per barrel, far below their peak of over US$120 per barrel. The price weakness was triggered by a decline in Chinese oil imports, increased supply from producers outside the Middle East, and the release of global strategic oil reserves.
OPEC+ also faces new challenges after the United Arab Emirates (UAE) exited the alliance and Iraq pushed for larger production quotas. According to Reuters calculations, seven core members still have approximately 379,000 bpd in production cuts that have not yet been returned to the market. If production is increased again at the upcoming meeting on 2 August, the production cuts agreed upon in 2023 are expected to end completely.