JCI Opens in the Red, Asian Markets Plunge Due to Renewed Tensions in the Strait of Hormuz

Jakarta, VIVA – The JCI opened weaker by 9 points or 0.14% at the level of 6,959 during the opening of trading on Monday, 11 May 2026.

Head of Retail Research at BNI Sekuritas, Fanny Suherman, predicts that the JCI has the potential to rebound in today’s trading.

“The JCI has the potential for a short-term technical rebound today to 7,070-7,130, but use it to sell on high because the JCI remains vulnerable to further corrections,” said Fanny in her daily research on Monday, 11 May 2026.

She stated that the majority of Asian markets collectively declined from their recent highs on Friday last week, due to rising tensions in the Middle East that have reignited concerns and are testing the resilience of the recent stock market rally.

In Japan, the Nikkei 225 index fell 0.19% and the Topix weakened 0.29%. Meanwhile, in South Korea, the Kospi index rose 0.11% and the Kosdaq strengthened 0.71%.

Meanwhile, Hong Kong’s Hang Seng fell 0.87%, Taiwan’s Taiex dropped 0.79%, China’s CSI 300 weakened 0.58%, and Australia’s ASX 200 declined 1.51%. Additionally, the Straits Times fell 0.41% and Malaysia’s FTSE decreased 0.61%.

On the other hand, the US military command stated that Iran’s attack on a US Navy destroyer, which occurred while they were sailing in the Strait of Hormuz, has prompted protests.

“JCI support is at the level of 6,650-6,850 while JCI resistance is in the range of 7,070-7,130,” she said.

For information, Wall Street’s main indices closed higher at the end of trading on Friday last week, driven by gains in Nvidia shares, Sandisk, and other AI-related stocks. Additionally, there was a stronger-than-expected jobs report, indicating labour market resilience.

The S&P 500 rose 0.84%, Nasdaq strengthened 1.71%, and the Dow Jones Industrial Average edged up 0.02%. Meanwhile, Nvidia shares rose 1.8%, and shares of memory and storage sellers Micron Technology and Sandisk each surged more than 15%, driven by strong demand from the rapid development of AI data centres.