Jakarta Composite Index rose as much as 1.2% on Thursday to 6,413.06, bringing gains to about 20% from the early‑June low and signaling a move toward bull‑market territory. Market sentiment has been supported by S&P Global Ratings’ affirmation of Indonesia’s sovereign rating and outlook, a retreat in oil prices and Bank Indonesia’s consecutive 50bp hikes in June. MNC Sekuritas said the index is trading in an established rising channel, with recent rupiah stabilization further boosting sentiment.

2026-07-23

Jakarta Composite Index rose as much as 1.2% on Thursday to 6,413.06, bringing gains to about 20% from the early‑June low and signaling a move toward bull‑market territory. Market sentiment has been supported by S&P Global Ratings’ affirmation of Indonesia’s sovereign rating and outlook, a retreat in oil prices and Bank Indonesia’s consecutive 50bp hikes in June. MNC Sekuritas said the index is trading in an established rising channel, with recent rupiah stabilization further boosting sentiment.