JCI may trade sideways as markets watch global developments
Jakarta (ANTARA) – The Jakarta Composite Index (JCI) on the Indonesia Stock Exchange (IDX) may trade sideways on Monday as market participants monitor global sentiment.
After opening higher, the JCI was down 29.49 points, or 0.48 per cent, at 6,064.27 at 9.55am Western Indonesian Time. The LQ45 index of 45 leading shares fell 3.10 points, or 0.52 per cent, to 598.57.
“Technically, the JCI is expected to consolidate in the 6,000–6,215 range this week. However, investors should be alert to the impact of rising oil prices and the expansion of the coverage of High Shareholding Concentration (HSC) shares,” Phintraco Sekuritas head of research Ratna Lim said in a market note in Jakarta on Monday.
Overseas, US President Donald Trump said Russia had agreed to supply diesel fuel to the US market and global markets.
Meanwhile, the University of Michigan’s consumer sentiment index fell to 46.3 in its preliminary October 2026 estimate, its lowest level since May 2026.
Investors are also watching developments in the Middle East, where Houthi attacks on Saudi Arabian airports have reignited geopolitical tensions and could push oil prices higher again.
Market participants are additionally monitoring the annual meetings of the International Monetary Fund (IMF) and World Bank in Bangkok, Thailand, from 12 to 18 October 2026. The meetings are taking place amid high energy costs and public debt, volatile bond markets and rising interest rates.
“Markets will be watching speeches by central bank officials from around the world, as well as the release of the IMF’s latest World Economic Outlook on Tuesday (13 October),” Ratna said.
In the US, investors will focus on the Consumer Price Index (CPI) and Producer Price Index (PPI), both due this week. Several major US companies will also begin reporting their third-quarter 2026 results.
Domestic sentiment is expected to be relatively limited this week, leaving the JCI more sensitive to external developments, particularly US inflation, China’s trade and inflation data, US Treasury yields and global crude oil prices.
European markets all closed higher on Friday (9 October): the Euro Stoxx 50 rose 0.76 per cent, the UK’s FTSE 100 gained 1.06 per cent, Germany’s DAX rose 1.13 per cent and France’s CAC 40 advanced 0.95 per cent.
US markets also closed higher on Friday (9 October). The S&P 500 rose 0.59 per cent to 7,811.54, the Nasdaq Composite gained 0.64 per cent to 27,336.17, and the Dow Jones Industrial Average climbed 0.83 per cent to 51,654.95.
In Asian markets this morning, the Shanghai Composite fell 0.10 per cent to 3,809.96 and South Korea’s Kospi dropped 2.135 per cent to 6,479.39. Hong Kong’s Hang Seng gained 0.18 per cent to 24,290.50, Malaysia’s Kuala Lumpur Composite Index rose 0.43 per cent to 1,615.36, and Singapore’s Straits Times Index advanced 0.64 per cent to 5,436.90.
Japan’s Nikkei was closed for Sports Day.