JCI Stable Despite Opening Gap Down, Focus Shifts to Retail Data
The JCI opened trading with a gap down at 7,410.08 and briefly dipped to 7,351.36 in the first hour, before paring losses and holding above 7,400. In the morning session, the index hovered around 7,441.37, down 0.23% from Friday's close, with global sentiment still reflecting the failure of the US-Iran peace talks over the weekend.
Pressure was seen on major banking stocks, dragging down several sectoral indices, with INFOBANK15 falling 0.73%, led by declines in BBTN, BBNI, BMRI, and ARTO. However, the JCI attempted to close the gap as the market digested the impact of the escalation in the Middle East on inflation and capital flows.
Externally, JD Vance confirmed that the US-Iran talks in Pakistan ended without an agreement. CENTCOM announced it would begin blocking shipping traffic in and out of Iranian ports starting Monday at 14:00 GMT (21:00 WIB), but did not restrict ships passing through Hormuz to non-Iranian ports. WTI prices opened a gap up to US$97, reinforcing global inflation concerns, although Indonesia held off on raising subsidized fuel prices until the end of the year, providing a cushion for domestic sentiment.
Domestically, market attention is focused on Indonesia's February Retail Sales data, released today at 10:00 WIB. Because the data period predates the escalation of the US-Israel conflict with Iran, its impact on the market is expected to be limited. The next more crucial agenda item is Bank Indonesia's interest rate decision next week, with the RDG statement key to understanding BI's response to geopolitical risks and energy inflation.
In the fixed income market, the 10-Year Government Bond (SUN) yield is at 6.555% and relatively stable, continuing its decline from the 2026 high set on March 16. In domestic commodities, the price of 1 gram of Antam gold rose Rp10,000 to Rp2,860,000, while XAU/USD opened a gap down at around US$4,661/oz and attempted to close the gap during the Asian session. (asd)
Source: Newsmaker.id
