JCI Opens Higher as Asian Markets Rally on Wall Street Tech Stock Gains

The Jakarta Composite Index (JCI) opened 26 points or 0.32 per cent higher at 8,300 during the opening of trading on Friday, 20 February 2026.

Head of Retail Research at PT BNI Sekuritas, Fanny Suherman, predicted the JCI would likely trade sideways during the session.

“The JCI has the potential to move sideways today,” Fanny said in her daily research note on Friday, 20 February 2026.

Asian stock markets strengthened on Thursday, driven by a technology stock rally on Wall Street. Meanwhile, US-Iran tensions kept oil prices elevated and bolstered gold as a safe-haven asset.

Trading was relatively subdued as markets in Hong Kong, China and Taiwan were closed for the Lunar New Year holiday. Nevertheless, Japan’s Nikkei index rose 0.57 per cent and the Topix gained 1.18 per cent, led by gains in technology shares.

South Korea’s Kospi index surged 3.1 per cent whilst Australia’s S&P/ASX 200 added 0.88 per cent. Market participants assessed the military build-up in the region as part of diplomatic pressure rather than a signal of imminent attack.

Elsewhere, the euro came under pressure following reports that European Central Bank President Christine Lagarde plans to step down early. Meanwhile, the New Zealand dollar weakened after the country’s central bank tempered market expectations for more aggressive monetary policy.

“JCI support is at the 8,200–8,230 level, whilst resistance is in the 8,300–8,350 range,” Fanny said.

Wall Street indices closed lower in Thursday’s session. The decline was triggered by investor concerns over the private credit sector and escalating geopolitical tensions between the United States and Iran.

The Dow Jones Industrial Average fell 0.54 per cent, the S&P 500 declined 0.28 per cent, and the Nasdaq Composite dropped 0.31 per cent. Among individual stocks, Blue Owl Capital plunged approximately 6 per cent, whilst Blackstone and Apollo Global Management each fell around 5 per cent.