Why the JCI Suddenly Jumped Over 2%

The Indonesia Composite Index (IHSG) opened with a surge in trading on Friday (3/7/2026), continuing the gains recorded in the previous trading session.

At the market opening at 09:00 WIB, the IHSG rose by 1.07%, gaining 61 points to reach the 5,806.17 level. Approximately thirty minutes after the market opened, the IHSG was recorded to have accelerated further, rising by more than 2.39% to reach the 5,881 level.

Transaction value reached approximately Rp 2.59 trillion, with a trading volume of 5.57 billion shares traded across 358,000 transactions. Around 460 stocks strengthened, 101 stocks weakened, while 155 stocks remained stagnant.

The issuers with the largest transaction values at the start of today’s trading were BBCA, BBRI, BMRI, BRPT, and TPIA.

Quoting Refinitiv data, all trading sectors strengthened, with the highest increases recorded in the utilities, basic materials, financial, and technology sectors.

Blue-chip stocks, particularly in the banking and State-Owned Enterprise (SOE) sectors, rose significantly and served as the primary drivers of the IHSG’s performance today. Additionally, conglomerate stocks also strengthened significantly, supporting the rapid movement of the IHSG.

Bank Central Asia (BCA) was recorded as the main pillar of the IHSG’s performance, contributing 13.27 index points. This was followed by Bank Mandiri (BMRI) with a 9-point increase. Other banking issuers driving the IHSG upwards included Bank Rakyat Indonesia (BBRI) by 4.39 points and Bank Negara Indonesia (BBNI) by 2.98 index points.

Conglomerate issuers acting as the main drivers of the IHSG today included AMMN, BREN, and DCII.

The blue-chip issuer Astra International (ASII) contributed 5.72 index points today, while two SOEs, Aneka Tambang (ANTM) and Telkom Indonesia (TLKM), each contributed approximately 3 points.

It was noted that all SOEs actively traded on the Indonesia Stock Exchange strengthened today. This strengthening aligns with the announcement that Danantara has completed all SOE financial reports as of December 2025, highlighting the rapid performance of SOEs over the past year up to April 2026.

Conglomerate stocks also moved in unison, with all shares from the Barito Prajogo Pengestu Group and the Bakrie Group moving in the green zone.

Large banking issuers (KBMI III and IV) all strengthened, as did gold and nickel mining issuers.

As the trading week approached its end, the Indonesian financial market received several pieces of good news from the United States, which will observe its 250th Independence Day tomorrow, Saturday (4/lar/2026).

Latest US labour data provided mixed signals, but generally suggested that the US economy is beginning to cool. This condition makes it more likely for the Fed to maintain interest rates at the next meeting while continuing to monitor inflation developments. If the labour market continues to weaken and inflation subsides in the coming months, it would reduce the urgency for interest rate hikes at the next meeting.

On the other hand, the US Dollar Index also weakened to 100.856, its lowest position since 19 June 2026. This condition indicates that investors are offloading dollars, which is expected to have a positive impact on the Rupiah.

This news is expected to serve as a positive sentiment for the Indonesian financial market.

Meanwhile, the movement of Asia-Pacific stock markets tended to vary in Friday’s trading (4/7/2026), amidst continued investor rotation out of technology stocks. This sentiment follows the weakness in the technology and semiconductor sectors on Wall Street in the previous trading session.

In Japan, the Nikkei 225 index opened lower by 0.86%. Meanwhile, the Topix index actually strengthened by 0.34% at the start of trading.

South Korean markets moved mixed, with the Kospi index rising 0.97%. On the other hand, the small-cap Kosdaq index corrected by 1.12%.

The Australian stock market also moved positively at the start of trading, with the S&P/ASX 200 index recorded gaining 0.42%.

Meanwhile, the Hang Seng Hong Kong index futures stood at 23,061, slightly higher than the previous closing position of 23,055.03.

The movement of Asian markets occurred after US stock markets closed with varied results on Thursday local time. The Dow Jones index hit a new record close after weaker-than-expected June employment reports increased hopes for interest rate cuts by the US central bank, the Federal Reserve.

The Dow Jones Industrial Average surged 594.83 points or 1.14% to a record level of 52,900.07. In fact, the index even touched a new intraday record at 52,903.85.

Meanwhile, the S&P 500 index moved almost stagnantly with an increase of less than one point, closing at 7,483.24. As for the Nasdaq index, it corrected by 0.8% to the position of 25,832.67.