JCI Opens Higher Attempting to Break Resistance, Asian Markets Sluggish & Wall Street Strengthens

Jakarta – The Jakarta Composite Index (JCI) opened higher by 29 points or 0.41% at the level of 7,086 during Wednesday’s trading session on 6 May 2026.

Head of Retail Research at BNI Sekuritas, Fanny Suherman, predicts that the JCI will attempt to test and break the resistance but could potentially correct again during today’s trading.

“The JCI has the potential to try testing the break of resistance at 7,100-7,120. If it fails, it still has the potential to correct again, considering the rupiah is already approaching Rp 17,500,” said Fanny in her daily research on Wednesday, 6 May 2026.

She stated that Asian markets weakened during Tuesday’s trading. Meanwhile, global oil prices remained high above US$100 per barrel, in line with the fading prospects of a ceasefire between the US and Iran.

Tensions escalated after both countries launched attacks again in the Gulf region, particularly in the Strait of Hormuz, which could raise concerns about disruptions to global oil supplies.

The Hang Seng Index weakened by 0.76%, and Australia’s ASX 200 fell 0.19%. Meanwhile, Taiwan’s Taiex rose 0.16%. The FTSE Straits Times declined 0.08%, and Malaysia’s FTSE KLCI gained 0.44%.

On the other hand, investors are also monitoring the yen, after the Japanese currency surged in the previous session, sparking speculation about another round of intervention from Tokyo.

“JCI support is at the 6,950-7,000 level, while JCI resistance is in the 7,100-7,120 range,” she said.

For information, Wall Street stock indices closed higher on Tuesday’s trading. The gains were driven by falling oil prices and solid earnings performance from issuers.

The S&P 500 rose 0.81%, the Nasdaq Composite surged 1.03%, and the Dow Jones Industrial Average strengthened 0.73%. West Texas Intermediate crude oil prices fell 3.9% (US$102.27 per barrel), and Brent crude weakened 3.99% (US$109.87 per barrel).