Jakarta. Indonesian stocks opened slightly higher on Friday as optimism over the country’s stronger-than-expected economic growth and fresh fiscal stimulus plans helped offset cautious global sentiment ahead of key US jobs data.
Jakarta Composite Index (JCI) gained 9 points, or 0.14%, to 6,352 at the opening bell. The benchmark traded between 6,347 and 6,362 in early trading.
As of 08:56 a.m. Jakarta time, trading volume reached 1.5 billion shares worth Rp 616 billion ($34.35 million) across more than 111,761 transactions. Gainers outnumbered losers, with 232 stocks advancing, 177 declining, and 247 unchanged.
According to Kiwoom Sekuritas Indonesia, investor sentiment was supported by the government’s confidence that economic momentum will remain intact in the second half after Indonesia’s economy expanded 5.29% year-on-year in the second quarter of 2026.
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To sustain household purchasing power, the government is preparing a Rp 26.34 trillion economic stimulus package covering social assistance, transportation incentives, tourism support, workforce training, and stable fuel prices through the end of the year.
The brokerage said the outlook is further supported by controlled inflation, manufacturing activity returning to expansion territory, and resilient credit growth.
Kiwoom also highlighted improving fiscal indicators. Indonesia’s tax ratio rose to 9.32% in the first half of 2026 from 8.42% a year earlier, or 10.44% when including non-tax state revenue (PNBP) from natural resources.
Despite the improvement, some observers believe the government’s 2026 tax ratio target remains challenging due to potential tax refund payments and the seasonal pattern of tax collection. Finance Minister Purbaya Yudhi Sadewa, however, remains optimistic the tax ratio can reach 11% by the end of the year, supported by tax revenue growth of around 24% year-on-year.
External sentiment, meanwhile, remained cautious ahead of the release of the US Nonfarm Payrolls report, which investors see as a key indicator for the Federal Reserve’s next policy move.
Technology stocks also stayed under pressure after Sandisk and Western Digital fell sharply following weaker-than-expected business guidance, despite reporting quarterly earnings that exceeded market expectations.
Wall Street closed lower overnight as rising oil prices, driven by escalating tensions in the Strait of Hormuz, weighed on sentiment. The S&P 500 slipped 0.18%, the Nasdaq Composite lost 0.06%, and the Dow Jones Industrial Average dropped 0.85%, with investors also locking in profits after a strong rally earlier this month.
Across Asia, markets were mostly weaker. As of 08:56 a.m. Jakarta time, Japan’s Nikkei fell 1.42%, South Korea’s Kospi declined 1.14%, Hong Kong’s Hang Seng slipped 0.32%, and China’s Shanghai Composite eased 0.11%.
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