JCI seen approaching 6,400 ahead of key economic data releases

JAKARTA – The Jakarta Composite Index (JCI) is expected to await positive catalysts from a series of economic data releases scheduled for early August 2026.

The index previously closed 0.8%, or nearly 50 points, higher at 6,236.13 on Friday's trading session (31/7), bringing its monthly gain to 10.51% after consistently declining throughout the first half of 2026.

Analysts at Phintraco Sekuritas said investors this week will focus on Indonesia's Manufacturing PMI, trade balance and inflation data. The reduction in non-subsidised fuel prices from the beginning of August 2026 is also expected to provide an additional positive catalyst for the market.

"From a technical perspective, the JCI is expected to extend its gains by testing the 6,300–6,380 range this week," Phintraco analysts said in a note to investors.

Phintraco analysts also said investors would continue to monitor developments in the conflict between the United States and Iran, given its direct impact on crude oil prices.

Meanwhile, analysts at BRI Danareksa Sekuritas said investors would also pay close attention to listed companies' first-half 2026 earnings, alongside domestic economic data releases.

Historically, BRI Danareksa analysts noted that the JCI has tended to post gains in August, with a roughly 90% probability of advancing over the past 10 years.

"Technically, the JCI still has room to extend its rally as long as it remains above the 6,180–6,200 support range, with an upside target of testing resistance at 6,300–6,380," BRI Danareksa analysts said in a research note released earlier this week.

"The bullish momentum remains intact, although volatility is expected to increase ahead of this week's key economic data releases," they added.

In commodity markets, crude oil prices opened lower during the Asian trading session this week. West Texas Intermediate (WTI) crude fell 4.78% to USD 80.62 a barrel, while Brent crude declined 4.59% to USD 83.89 a barrel.

The US Dollar Index (DXY) opened 0.40% lower at 99.51. (KR/ZH)