JCI Opens Higher as Investors Continue to Monitor Market Sentiments

Investors will monitor the progress of the 2026 state budget (APBN) realisation amid concerns over fiscal discipline and its impact on the economy. Jakarta (ANTARA) - The Composite Stock Price Index (IHSG) of the Indonesia Stock Exchange (BEI) opened higher on Monday morning, up 32.12 points or 0.46% to 6,988.92. Although it strengthened, investors are still assessing various sentiments that could influence market movements. From external factors, global market participants are paying attention to the potential for a new round of talks between the United States (US) and Iran. Additionally, investors are awaiting the release of key US economic data. “From economic data, investors will monitor US employment data and the ISM services sector data,” said Head of Research at Phintraco Sekuritas, Ratna Lim, in her analysis in Jakarta on Monday. As is known, crude oil prices had previously weakened after Iran sent a new peace proposal to the US via Pakistan. However, US President Donald Trump expressed dissatisfaction with the proposal. Trump also faces a 60-day deadline under the War Powers Resolution regarding military actions in the conflict with Iran. The US government argues that the ceasefire since 7 April 2026 has ended hostilities, thus not requiring congressional approval to continue policies related to the conflict. Meanwhile, from the domestic side, the market will be overshadowed by several important economic data releases this week, including the manufacturing PMI index, trade balance, and inflation on 4 May 2026. Next, first-quarter 2026 economic growth data will be released on 5 May 2026, followed by foreign exchange reserves, property price index, and car sales on 8 May 2026. On the fiscal side, the realisation of the 2026 State Revenue and Expenditure Budget (APBN) as of the end of March recorded a deficit of Rp240.1 trillion or equivalent to 0.93% of gross domestic product (GDP), an increase compared to the 0.43% deficit in the same period the previous year. The widening deficit was influenced by a 31.4% increase in state expenditure to Rp815 trillion, while state revenue was recorded at Rp574.9 trillion or 18.2% of the target. This situation is also a concern for investors amid worries about fiscal discipline and its impact on economic stability. “Investors will monitor the progress of the 2026 APBN realisation amid concerns over fiscal discipline and its impact on the economy,” Ratna explained. Therefore, from a technical perspective, Phintraco Sekuritas projects that the IHSG has the potential to strengthen if it can hold above the 7,000 level, with a movement range in the 7,020-7,150 area. However, if it remains below that level, the IHSG could test the 6,750-6,850 range.