Indonesia’s composite stock index, the Indeks Harga Saham Gabungan (IHSG), opened higher by 0.19 percent at 6,042.85 points on Friday, October 9, 2026, rising 11.57 points at the start of trading in Jakarta.
Early trading activity
The IHSG fluctuated between 6,035.38 and 6,043.95 points in early trading. Trading volume reached 26.97 million lots with a trading value of Rp189.22 billion during the same period. Market sentiment remained cautious, influenced by both domestic and international factors.
Investor attention focused on upcoming Indonesian retail sales data to gauge the recovery in public spending. Bank Indonesia had reported a slight decline in consumer confidence for September, with the Indeks Keyakinan Konsumen (IKK) falling to 118.1 from 118.5 in August.
External factors and Monetary policy
The broader market environment remained sensitive to global energy prices. The International Monetary Fund’s managing director, Kristalina Georgieva, warned that energy prices could stay elevated even if conflict in the Gulf region ended soon. Brent oil prices had recently risen above US$104 per barrel, marking an increase of more than 4 percent from around US$100.
European Central Bank meeting minutes released the prior day indicated that policymakers saw inflation risks tending to increase but provided no clarity on future interest rate moves. The ECB’s deposit rate and main refinancing operations rate stood at 2.50 percent and 2.65 percent, respectively.
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Geopolitical considerations
Geopolitical factors also shaped market perspectives. President Donald Trump stated by October 9 that he would not attack Iran before the US midterm elections on November 3, 2026. Trump reaffirmed that the naval blockade against Iran remained in place and tightened controls to prevent Tehran from acquiring nuclear weapons.
Related: Wall Street opens lower on rising oil and Iran concerns · Wall Street opens higher as oil gains, bonds ease
Source: European Central Bank · Bank Indonesia
