JCI Rises as Markets Await Indonesia’s 2025 GDP Data

RRI.CO.ID, Jakarta - The Indonesia Stock Exchange (IDX) showed cautious resilience on Thursday morning, February 5, 2026, as the Jakarta Composite Index (JCI) moved higher while investors adopted a “wait and see” stance ahead of the release of Indonesia’s full-year 2025 Gross Domestic Product (GDP) data.

The JCI opened with a gain of 20.63 points, or 0.25 percent, to 8,167.35. The LQ45 index, which tracks 45 leading blue-chip stocks, rose 2.69 points, or 0.32 percent, to 835.49. 

Capital market observer Reydi Octa said the index is likely to move within a horizontal corridor. “The JCI has the potential to move in the range of 8,000–8,300,” Reydi stated in Jakarta on Thursday, as quoted by Antara.

He noted that the market’s trajectory over the next two days would be influenced by ongoing diplomatic and regulatory discussions regarding Indonesia’s standing with Morgan Stanley Capital International (MSCI). “If progress is seen in the dialogue, it could ease volatility pressures, but if not, selling pressure could persist,” he said.

Investors are also awaiting the Central Bureau of Statistics (BPS) announcement of Indonesia’s 2025 annual growth figures. 

Market consensus expects growth of 5 percent year-on-year, down slightly from 5.3 percent in 2024. Fourth-quarter growth is projected at 5.2 percent year-on-year and 1.9 percent quarter-on-quarter, compared with 5.04 percent year-on-year and 1.43 percent quarter-on-quarter in the third quarter.

On the regulatory front, the Financial Services Authority (OJK) is pursuing its target of achieving a 15 percent free float for listed companies. 

The transition will be implemented gradually over three years, with the OJK and IDX monitoring issuer readiness, market liquidity, and investor absorption capacity to ensure stability.

Global sentiment also shaped trading floor dynamics. Investors are watching Europe, where December 2025 retail sales are expected to grow 2.3 percent year-on-year, up from 2 percent in November. 

The European Central Bank (ECB) is widely expected to maintain its benchmark interest rate at 2.15 percent and deposit facility rate at 2 percent, while the Bank of England (BoE) is predicted to keep its rate at 3.75 percent.

Wall Street closed mixed on Wednesday, February 4, 2026. The Dow Jones Industrial Average rose 0.53 percent to 49,501.30, while the Nasdaq fell 1.51 percent to 22,904.58 and the S&P 500 slipped 0.51 percent to 6,882.72.

Asian regional markets opened lower on Thursday morning. Japan’s Nikkei dropped 331.89 points, or 0.61 percent, to 53,961.50. The Shanghai Composite fell 30.94 points, or 0.75 percent, to 4,071.26. Hong Kong’s Hang Seng declined 219.13 points, or 0.82 percent, to 26,628.18, while Singapore’s Straits Times weakened 9.50 points, or 0.19 percent, to 4,955.99. ***