JCI Surges Over 2% at Open Amid Cooling US Labour Market

The Jakarta Composite Index (JCI) soared at the opening of trading on Friday (3/7/2026), continuing the gains recorded in the previous session. At the market open at 09:00 WIB, the JCI rose 1.07%, or 61 points, to 5,806.17. Minutes after the market opened, the JCI accelerated further, surging more than 2.03% to reach 5,862. Transaction value was recorded at approximately Rp 124.80 billion, with a trading volume of 169.34 million shares across 17,000 transactions. A total of 236 stocks advanced, 70 declined, and 270 remained unchanged. The stocks with the largest transaction values at the start of trading were BBCA, BBRI, BMRI, BRPT, and ANTM. Towards the end of this week’s trading, Indonesia’s financial markets received a boost from the United States, which will celebrate its 250th Independence Day on Saturday (4/7/2026). The latest US labour data provided mixed signals but generally indicated that the US economy is beginning to cool. This makes it more likely that the Federal Reserve will hold interest rates steady at its next meeting while continuing to monitor inflation developments. If the labour market continues to weaken and inflation eases in the coming months, the urgency to raise rates at subsequent meetings will diminish. Meanwhile, the US dollar index also weakened to 100.856, its lowest level since 19 June 2026. This suggests investors are offloading the dollar, which is expected to have a positive impact on the rupiah. This news is anticipated to provide positive sentiment for Indonesia’s financial markets. Elsewhere, movements in Asia-Pacific stock markets were mixed on Friday, amid a continued rotation by investors out of technology stocks. This sentiment followed a decline in the technology and semiconductor sectors on Wall Street in the previous session. In Japan, the Nikkei 225 index opened down 0.86%, while the Topix index gained 0.34% in early trade. South Korean markets were mixed, with the Kospi index rising 0.97%, while the small-cap Kosdaq index corrected by 1.12%. Australian shares moved positively at the open, with the S&P/ASX 200 index gaining 0.42%. Hong Kong’s Hang Seng index futures were at 23,061, slightly higher than the previous close of 23,055.03. The mixed performance in Asia followed a varied close on Wall Street on Thursday. The Dow Jones Industrial Average hit a new record closing high after a weaker-than-expected June employment report raised hopes for interest rate cuts by the Federal Reserve. The Dow surged 594.83 points, or 1.14%, to a record 52,900.07, having earlier touched a new intraday high of 52,903.85. The S&P 500 was nearly flat, closing at 7,483.24, while the Nasdaq fell 0.8% to 25,832.67.