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Source: Newsmaker.id
The Jakarta Composite Index (JCI) opened higher in Monday's trading (Oct 12), extending the rebound seen at the end of last week. The index opened at 6,109.32, up 15.56 points or 0.26% from the previous close. The LQ45 index also rose by approximately 0.26%.
The upward momentum continued into early trading, with the JCI touching the 6,127 level—a gain of around 0.55%. The majority of stocks traded positively, reflecting favorable early-session sentiment after the index managed to hold above the psychological 6,000 mark.
On the external front, investors remain focused on global market developments and commodity price movements. A decline in oil prices has provided some relief by easing concerns over inflationary pressure. However, elevated US Treasury yields remain a point of concern, as they can boost the appeal of dollar-denominated assets and exert pressure on emerging markets.
Investors are also preparing for key economic events this week, particularly inflation data from the US and China. These figures could influence expectations regarding Federal Reserve policy and the direction of global markets. Domestically, the movement of the Rupiah and foreign investor activity are also critical factors that could determine the sustainability of the JCI's rebound.
Newsmaker observes that the JCI's positive opening signals a short-term recovery but is not yet sufficient to confirm a full trend reversal. The 6,000 level remains a crucial support area, while any move toward higher levels will depend heavily on global sentiment, the trajectory of Treasury yields, the Rupiah, and foreign capital flows. (asd)
Source: Newsmaker.id