JCI Opens Higher, Set to Test Resistance as Asian Markets Weaken Amid Middle East Conflict

The Jakarta Composite Index (JCI) opened higher by 29 points or 0.39% at the level of 7,663 during the opening of trading on Monday, 20 April 2026.

Head of Retail Research at BNI Sekuritas, Fanny Suherman, predicts that the JCI will test resistance overshadowed by corrections in today’s trading.

“The JCI has the potential to test resistance at 7,660. If it fails to break that level, it could correct back towards support at 7,600,” said Fanny in her daily research on Monday, 20 April 2026.

She stated that Asia-Pacific stock markets weakened in trading last Friday, in line with market sentiment still overshadowed by uncertainties from the Middle East conflict, despite developments towards a ceasefire.

Japan’s Nikkei 225 index fell 1.75%, and the Topix weakened 1.51%. In South Korea, the Kospi corrected by 0.55%, while the Kosdaq rose 0.61%.

Meanwhile, Australia’s S&P/ASX 200 fell 0.09%, Hong Kong’s Hang Seng weakened 0.89%, and China’s CSI 300 decreased 0.17%.

On the other hand, US President Donald Trump stated that Israel and Lebanon have agreed to a 10-day ceasefire starting at 17:00 local time.

Additionally, Iran’s Parliament Speaker emphasised that halting Israel’s attacks on Lebanon is a primary condition for resuming negotiations between the US and Iran.

Trump also mentioned that a follow-up meeting between the US and Iran is likely to take place at the end of next weekend. He even claimed that the conflict with Iran is “very close to ending”, with the two-week ceasefire period ending on 21 April.

“JCI support is at the 7,500-7,600 level, while JCI resistance is in the 7,660-7,720 range,” she said.

For information, Wall Street closed higher at the end of last week. The Nasdaq Composite index rose 1.52%, the Dow Jones Industrial Average increased 1.79%, and the S&P 500 surged 1.20%.

Investors welcomed Iran’s decision to open the Strait of Hormuz and are optimistic that the country can reach an agreement with the US to end the war. Iran’s Foreign Minister, Abbas Araqchi, in a post on X, stated that the shipping route for all commercial vessels through the Strait of Hormuz is “fully open” following the ceasefire agreement in Lebanon.