Recovering from Pressure, JCI and Rupiah Tested by 10 Major Sentiments Today
The Indonesian financial market is expected to continue its strengthening trend today. In Tuesday’s trading (2/6/2026), the Indonesia Composite Index (JCI) closed up 68.05 points or 1.11% to the level of 6,195.43. Although it closed in the green zone, the JCI’s gains were trimmed by dozens of points by the end of trading, having initially surged by 2.23% in the morning.
In the foreign exchange market, the Rupiah exchange rate ended the start of this month with gains against the US Dollar. Conversely, the US Dollar Index (DXY), which measures the strength of the greenback against six major world currencies, weakened by 0.12% to 99.081 as of 15:00 WIB.
Bank Indonesia continues to tighten supervision of foreign exchange transactions to maintain Rupiah stability. Under new regulations, the limit for US Dollar purchases without underlying documents is being gradually reduced from US$100,000 to US$50,000 in April 2026, and will further decrease to US$25,000 per participant per month starting June 2026.
In the US stock market, Wall Street closed in the green during Tuesday’s trading. The S&P 500 index rose slightly to a new closing record, finishing at 7,609.78. Meanwhile, the Dow Jones Industrial Average climbed 228.91 points or 0.45% to 51,307.79, and the Nasdaq Composite edged up 0.03% to 27,093.90. Alphabet shares weighed on the S&P 500 after dropping nearly 4% following news that the Google parent company plans to raise US$80 billion through share sales to fund Artificial Intelligence (AI) expansion.
On the commodities front, oil prices continued their upward trend. West Texas Intermediate (WTI) crude rose 1.74% to US$93.76 per barrel, while Brent rose by more than 1% to US$96 per barrel. This follows reports from Iranian state media regarding potential disruptions in the Strait of Hormuz due to ongoing regional conflicts.
Several domestic and international sentiments are expected to influence the JCI and the Rupiah today. Key among these is the Manufacturing PMI. Indonesia’s manufacturing activity showed slight improvement, with the S&P Global PMI for May 2026 standing at 50.0, recovering from a contraction of 49.1 in April 2026. This improvement was driven by strengthening domestic demand, although export performance remains a weakness due to ongoing trade disruptions caused by conflicts in the Middle East.