JCI Closes Second Session Up 0.69% at 5,916

The Jakarta Composite Index (JCI) strengthened during trading on Monday (6/7/2026), amid positive sentiment from varied Asian stock markets and market participants awaiting the minutes of the Federal Reserve meeting. Based on Indonesia Stock Exchange (BEI) data via IDX Mobile at the close of the second session, the JCI rose 40.23 points, or 0.69%, to 5,916.07. Transaction value was recorded as quiet, reaching only Rp9.50 trillion, with a trading volume of 19.83 billion shares across 1.63 million transactions. The BEI’s market capitalisation stood at approximately Rp10,378 trillion. A total of 386 stocks advanced, 242 declined, and 155 remained unchanged. Citing Refinitiv, almost all sectors strengthened, with only the energy sector experiencing a correction. The highest gains were recorded by the infrastructure, financial, property, and industrial sectors. Key stocks supporting the JCI’s performance included BBRI, DCII, BBCA, BRMS, and TPIA. Several important economic data points are set to determine the direction of global and domestic financial markets this week. From the United States, investors are awaiting service sector indicators and the Federal Reserve 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 global supply amid weakening oil prices and recovering exports through the Strait of Hormuz. This increase follows additional quotas of the same magnitude 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 disrupted tanker traffic in the Strait of Hormuz. OPEC+ production was recorded as falling 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 the peak of over 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 petroleum 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 they agree to increase production again at the meeting on 2 August, the production cuts agreed in 2023 are expected to be fully unwound.