JCI Opens in the Green Amid Correction Concerns, Asian Markets and Wall Street Advance in Unison

Jakarta, VIVA – The JCI opened stronger by 34 points or 0.49% at the level of 7,126 during Thursday’s trading session on 7 May 2026.

Head of Retail Research at BNI Sekuritas, Fanny Suherman, predicts that the JCI will attempt to test and break resistance levels but remains at risk of correcting further today.

“The JCI has the potential to try testing a break of resistance at 7,100-7,150. If it fails to break, it still has the potential to correct back to 6,850-7,000,” said Fanny in her daily research on Thursday, 7 May 2026.

She noted that Asian markets collectively strengthened during Wednesday’s trading. Hong Kong’s Hang Seng Index rose 1.22%, Taiwan’s Taiex climbed 0.91%, and Australia’s ASX 200 surged 1.30%. Meanwhile, South Korea’s Kospi jumped 6.45%, while Kosdaq fell 0.29%.

Leading stocks Samsung Electronics and SK Hynix hit all-time highs, rising more than 14% and 10% respectively. Additionally, Singapore’s FTSE Straits Times increased 0.14%, and Malaysia’s FTSE KLCI strengthened 0.54%. Japan’s stock market was closed for a holiday.

On the other hand, as a signal that diplomatic efforts to resolve the Middle East crisis are proceeding as planned, US President Donald Trump stated that US efforts to guide ships out of the Strait of Hormuz have been temporarily halted.

“We have agreed that, although the Blockade will remain fully in place, Operation Freedom will be temporarily halted for a short period to see if the Agreement can be finalised and signed,” Trump said in a post on Truth Social.

“JCI support is at levels 6,950-7,000, while resistance is in the range of 7,100-7,150,” she added.

For context, Wall Street indices closed sharply higher on Wednesday’s trading, driven by market optimism regarding a potential US-Iran peace agreement. The S&P 500 surged 1.46%, the Nasdaq Composite rose significantly by 2.02%, and the Dow Jones Industrial Average advanced 1.24%.

The positive sentiment stems from an Axios report indicating that the US and Iran are getting closer to reaching an agreement to end the conflict. The deal is reportedly to include a moratorium on nuclear enrichment. US President Donald Trump signalled that the agreement is not yet certain. In fact, Trump warned of potential conflict escalation if the agreement fails.