IHSG Opens Up 0.24% This Morning

The Jakarta Composite Index (IHSG) opened stronger at the start of trading on Monday (6/7/2026), amid positive sentiment from varied Asian stock markets and anticipation of the Federal Reserve’s (The Fed) meeting minutes. Based on data from the Indonesia Stock Exchange (BEI) via IDX Mobile up to around 09.00 WIB, the IHSG rose 14.24 points or 0.24% to a level of 5,890.02. Transaction value was recorded at Rp254.5 billion with a trading volume of 433.5 million shares in 49.6 thousand transactions. The BEI’s market capitalisation stood at around Rp10,320 trillion. Several key economic data points will determine the direction of global and domestic financial markets today and throughout the coming week. From the United States, investors will await service sector indicators and the Federal Reserve’s 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 its oil production target by 188,000 barrels per day (bpd) starting in August. The decision, announced on Sunday (5/7/2026), adds to global supply amid weakening oil prices and recovering exports through the Strait of Hormuz. This increase follows an additional quota of the same size in June and July. Cumulatively, the seven core OPEC+ members have raised production targets by nearly 800,000 bpd since April. However, actual production has not fully increased due to the US-Israel-Iran war which had disrupted tanker traffic in the Strait of Hormuz. OPEC+ production was recorded falling to 33.13 million bpd in May from 42.77 million bpd in February, before starting to recover in June. On the other hand, oil prices have returned to the range of US$72 per barrel, far below their peak above US$120 per barrel. The price weakening was triggered by declining 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) left the alliance and Iraq pushed for a larger production quota. According to Reuters calculations, the seven core members still have around 379,000 bpd of production cuts that have not been returned to the market. If production is increased again at the meeting on 2 August, the production cuts agreed in 2023 are expected to be fully terminated.