IHSG Strengthens at Start of Week as Market Awaits Fed Policy Signals
The Jakarta Composite Index (IHSG) on the Indonesia Stock Exchange (BEI) moved higher on Monday morning (6/7/2026), driven by global market optimism regarding a dovish stance from the US Federal Reserve. The IHSG opened up 17.50 points, or 0.30 percent, at 5,893.28. Meanwhile, the LQ45 index of top 45 stocks rose 1.30 points, or 0.22 percent, to 583.08.
Head of Research at Kiwoom Sekuritas, Liza Camelia Suryanata, noted that domestic sentiment remains overshadowed by the first trade deficit since April 2020, a contraction in manufacturing activity, and a warning from Fitch Ratings regarding declining foreign exchange reserves.
From the global perspective, Liza explained that market sentiment turned positive after US employment data came in weaker than expected, strengthening the case for a loosening of monetary policy by the Fed. Market participants are reducing expectations of interest rate hikes and increasing positions in risk assets.
The short-term market direction will depend on upcoming economic data releases, including the US ISM Services PMI, the minutes from the Federal Open Market Committee (FOMC) meeting, and China’s inflation data. Market focus is also on the progress of trade negotiations between the US and the European Union and the potential impact of tariff policies on the global manufacturing sector.
Meanwhile, tensions in the Middle East continue to ease following progress in peace negotiations between the US and Iran. Shipping activity through the Strait of Hormuz is steadily recovering, and Saudi Arabian oil exports have returned to approximately 90 percent of pre-conflict levels. This development has helped alleviate concerns over global energy supply disruptions.
On the domestic front, the Directorate General of Taxes at the Ministry of Finance has begun strengthening tax supervision of the digital economy by utilising transaction data from Tokopedia, Shopee, Lazada, and Blibli to monitor merchant turnover. Under the implementation of Minister of Finance Regulation Number 37 of 2025, marketplaces are appointed as collectors of Income Tax Article 22 at a rate of 0.5 percent on merchant turnover, effective 1 August 2026. The transaction data will be used to verify taxpayer turnover, particularly for businesses with turnover exceeding Rp 4.8 billion per year that have not yet registered as Taxable Entrepreneurs (PKP), while also broadening the tax base.
Market participants are also awaiting domestic data on foreign exchange reserves, the consumer confidence index, Bank Indonesia’s retail sales data, and rupiah exchange rate stability.