JAKARTA – Jakarta Composite Index (JCI) is poised for a rebound to the 6,160–6,270 range in Thursday’s trading (10/4), following US President Donald Trump’s decision to delay reciprocal tariffs for 90 days on all countries except China.

According to analysts at Phintraco Sekuritas, the move may also help close the gap left by JCI’s losses earlier in the week, with declines of 7.9% and 0.47% recorded on Tuesday (8/4) and Wednesday (9/4), respectively.

“If the market euphoria is strong enough, JCI could continue its rally towards the 6,400–6,500 level,” said Valdy Kurniawan, Senior Equity Research Analyst at Phintraco Sekuritas, in a written statement.

He added that the tariff delay gives countries—including Indonesia—additional time for negotiations, potentially reducing the likelihood of retaliatory measures from many of America’s trade partners.

Moreover, the postponement of reciprocal tariffs is expected to curb dumping practices and oversupply of certain products in Indonesia and the broader ASEAN region.

Following the announcement of the delay near the close of US markets on Wednesday, major US indices surged. The Dow Jones Industrial Average (DJI) jumped 7.87%, the Nasdaq soared 12.16%, and the S&P 500 rallied 9.51%. (KR/ZH)