JCI Opens 0.54% Higher, Returning to the 6,200 Level
The Indonesia Composite Index (JCI) opened higher in trading on Friday (31/07/2026), as market participants adopted a wait-and-see stance in response to several important global economic agendas this week.
Based on Indonesia Stock Exchange (IDX) data as of 09:00 WIB, the JCI stood at 6,219.62, an increase of 0.54% from the previous trading close of 6,186.36. Transaction value was recorded at approximately Rp 165.66 billion, with a trading volume of 371.26 million shares across 30,123 transactions. A total of 333 stocks strengthened, 57 stocks weakened, while 234 stocks remained stagnant, indicating that selling pressure has begun to ease since yesterday’s session.
The domestic financial market closed mixed in yesterday’s trading (Thursday, 30/07), with the JCI gaining 1.56% to 6,186.36, supported by gains in big-cap banking and telecommunications stocks. Conversely, the Rupiah weakened by 0.17% to Rp 18,075/US$, following the global strengthening of the US Dollar. Overseas sentiment was positive after Wall Street rallied, with the Nasdaq surging 2.8% led by a 15.5% jump in Microsoft shares following 43% growth in its Azure cloud business. Additionally, June PCE inflation fell by 0.1% month-on-month, meeting expectations and signalling that US inflationary pressures are easing, which could strengthen expectations for a Fed rate cut.
However, two major pressures loom over the market today. First, geopolitical escalation: drone attacks on a gas ship at the Port of Damietta, Egypt, have raised concerns regarding a new front in the US-Iran conflict. The escalating tensions between the US and Iran have pushed Brent crude prices up by nearly 8% to US$90.74 per barrel, with tanker traffic in the Strait of Hormuz reported to have nearly halted. Second, mixed US economic data: the US economy grew by only 1.5% (annualised) in Q2-2026, slowing from 2.1% and falling below market expectations, even though household consumption strengthened to 3.2%.
Investors are now awaiting several key releases from Asia and Europe. China is scheduled to announce July manufacturing PMI data after the previous month showed expansion for three consecutive months, while the Eurozone will release annual June inflation data amid concerns over rising oil prices due to the Iran conflict. In Japan, the Bank of Japan (BoJ) is expected to hold interest rates at 1%, but the market is looking for signals from Governor Kazuo Ueda regarding the possibility of the next rate hike, as the Yen sits near its weakest level in four decades.
Regarding US employment data, conditions remain solid: weekly jobless claims reached 197,000, performing better than the 200,000 expectation, while continuing claims fell to their lowest level in over a month. This combination of various sentiments suggests the market is expected to remain volatile today, with the potential to close in the green if positive news from the US outweighs geopolitical pressures and monetary policy uncertainty from Japan and China.