RRI.CO.ID, Jakarta - Indonesia’s financial markets opened with limited momentum on Tuesday, as investors found absence of major catalysts to drive market movement. As a result, domestic assets were influenced more by regional trends, particularly developments across Asian financial markets.

During the morning session on Tuesday, 3 February 2026, most major Asian stock exchanges traded lower. This regional weakness created a cautious tone and became a negative sentiment for Indonesia’s stock market performance.

At the opening of trade, the Jakarta Composite Index (IHSG) slipped marginally to the level of 8,121. Market participants continued to monitor discussions between MSCI (Morgan Stanley Capital International) and Indonesia’s self-regulatory organizations, which are expected to shape future market policy and investor confidence.

The Indonesian rupiah, meanwhile, showed a modest appreciation, trading around 16,755 per US dollar. The movement reflected balanced market conditions, supported by stable domestic fundamentals despite global uncertainty.

However, the rupiah remained under pressure from a stronger US dollar. The US Dollar Index rose to 97.23, signalling continued global demand for the currency, although the pressure on emerging market currencies remained relatively contained.

Market expectations suggest that future US Federal Reserve policy will likely remain cautious. Potential successors to the current Fed leadership are seen as maintaining a similar policy direction, with some possibility of a more dovish approach.

While equity markets weakened, global gold prices moved in the opposite direction. Gold climbed above the key psychological threshold of US$5,000 per troy ounce, reaching around US$5,033, reinforcing its position as a safe-haven asset amid ongoing global market uncertainty.

Gunawan Benjamin (Economist at the Islamic University of North Sumatra)