TEMPO.CO, Jakarta - Equity Analyst at PT Indo Premier Sekuritas, David Kurniawan, said the movement of the Jakarta Composite Index (JCI) this week would still be overshadowed by the dynamics of geopolitical tensions in the Middle East. Tensions escalated again after Iran closed the Strait of Hormuz for the foreseeable future.
"Entering the week of July 13-17, 2026, market attention will be centered on key foreign economic agendas," said David in a press release on Monday, July 13, 2026.
Among these agendas is the release of US' June inflation rate, which David expected to become the primary market compass to read the direction of global interest rate policies.
JCI closed stronger by 0.83 percent at the level of 5,924 last week, but foreign investors recorded a net selling action reaching Rp1.7 trillion in the regular market.
Meanwhile, on Monday morning, July 13, 2026, as quoted from Antara, JCI moved up in the midst of market participants monitoring the valuation development of AI stocks and geopolitics in the Middle East.
The JCI opened stronger by 10.36 points or 0.17 percent, to the level of 5,934. Meanwhile, the group of 45 leading stocks or LQ45 index rose by 0.03 points or 0.01 percent to the level of 589.28.
David explained that the high geopolitical uncertainty made investors take a risk-off stance and be more conservative in managing their portfolios. As a result, global funds are now massively redirected to safe-haven assets, such as gold bars and the US dollar.
Meanwhile, domestically, the movement of JCI last week was influenced by the realization of a state budget deficit for the first semester of 2026, amounting to Rp196.5 trillion, taking up 0.76 percent of Gross Domestic Product.
Although still within safe limits, David warned that the faster pace of government spending compared to revenue still signals caution for fiscal authorities. "This condition requires the government to manage state financing much more tightly and selectively in the second half of this year," he said.
Read: Indonesia's JCI Slips 0.35% in Weekly Trading
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