JCI Opens Higher, Analysts Predict Test of 7,200 Level
Jakarta (ANTARA) -
The Composite Stock Price Index (JCI) of the Indonesia Stock Exchange (BEI) has the potential to test the psychological level of 7,200 during Friday’s trading, although investors remain wary of potential profit-taking actions ahead of the weekend.
As known, the JCI opened stronger on Friday morning, gaining 8.64 points or 0.12% to the level of 7,182.96. Meanwhile, in the previous trading session on Thursday (7/5), the JCI closed higher by 1.15% at 7,174.32.
This strengthening was supported by gains in the financial sector, which recorded the largest increase of 2.01%, according to Ratna Lim, Head of Research at Phintraco Sekuritas, in her statement in Jakarta on Friday.
“The JCI is expected to have the potential to test the 7,200-7,200 level during Friday’s trading (8/5). Nevertheless, caution is advised regarding the potential for short-term pullbacks ahead of the weekend,” she said.
The strengthening of the JCI continues to be supported by external sentiments and the rupiah exchange rate movement, which tends to improve.
Ratna explained that investors are currently also monitoring several domestic economic data releases, including the April 2026 foreign exchange reserves position, which is expected to decline in line with the recent rupiah weakening trend.
In addition, the residential property price index for the first quarter of 2026 is expected to grow more slowly at 0.5% year-on-year (yoy), down from 0.83% yoy in the fourth quarter of 2025.
From the automotive sector, domestic car sales in April 2026 are also expected to fall by 7% (yoy) after previously dropping 13.8% (yoy) in March 2026.
On the other hand, the market responded positively to the government’s policy regarding the exemption of tax levies on SOE corporate actions conducted by Danantara.
The Minister of Finance, Purbaya Yudhi Sadewa, previously approved the exemption of tax levies related to SOE corporate actions, from mergers and liquidations to divestitures.
The tax relief provided by the fiscal authorities relates entirely to SOE streamlining transactions up to exemptions.
“For example, if Danantara transfers from an SOE to a new company, it will receive tax relief,” said Ratna.