JCI Opens in the Green as Asian Markets Strengthen While Wall Street Weakens Due to Global Oil Prices

Jakarta – The Jakarta Composite Index opened stronger by 1 point or 0.02% at the level of 7,175 during Friday’s trading session on 8 May 2026.

Head of Retail Research at BNI Sekuritas, Fanny Suherman, predicted that the JCI has the potential for a correction in today’s trading.

“The JCI has the potential to correct today,” said Fanny in her daily research on Friday, 8 May 2026.

She stated that Asian markets surged again in Thursday’s trading. Japan’s Nikkei 225 index jumped 5.58%, while the Topix strengthened by 3%. In line with this, Hong Kong’s Hang Seng rose 1.57%, Taiwan’s Taiex gained 1.93%, and South Korea’s Kospi added 1.43%.

Meanwhile, Australia’s ASX 200 strengthened by 0.96%, Singapore’s FTSE Straits Times rose 0.30%, and Malaysia’s FTSE Malay KLCI gained 0.11%.

On the other hand, the widespread regional increase occurred after US President Donald Trump warned Iran that it would be bombed “at a much higher level” if it fails to agree to a peace deal.

Japan’s indices surged, led by gains in shares of the raw materials, technology, and financial sectors. Shares closed up 0.32%, after briefly rising 12%.

In line with this, Ibiden shares became the top performer, rising more than 22%, while Mitsui Kinzoku shares increased 17%. Renesas Electronics shares rose 13%, and Tosoh Corporation shares surged 11%.

“The JCI support is at the 7,000-7,100 level, while resistance is in the 7,200-7,280 range,” she said.

For information, Wall Street stock indices closed weaker in Thursday’s trading, as investors once again scrutinised oil price movements and developments in US-Iran negotiations.

The S&P 500 index fell 0.38%, due to pressure on technology and semiconductor shares including Amazon, Broadcom, and Micron Technology. Meanwhile, the Nasdaq Composite corrected by 0.13%, and the Dow Jones Industrial Average weakened by 0.63%.

On the other hand, US WTI crude oil prices fell 0.28% (US$94.81/bbl), while Brent crude weakened 1.19% (US$100.06/bbl). Citing several sources, the White House is reportedly preparing a memorandum of understanding containing 14 points, which not only aims to stop the war but also pave the way for further nuclear talks.

Iran’s Foreign Ministry spokesperson said the Iranian government is still evaluating the proposal submitted by the US and has not given a final decision. Uncertainty has increased again after a senior Iranian official stated that his country will not allow the US to reopen the strategic Strait of Hormuz through a scheme deemed “unrealistic”.