Jakarta Stocks Rise on Weak US Jobs Data and BI Policy Support

Jakarta stocks opened higher on Monday, continuing their upward trend following weaker-than-expected US jobs data. The Jakarta Composite Index (JCI) rose 18 points, or 0.3%, to 6,055 in early trading, with about 3.31 billion shares exchanged. Total transactions reached Rp 388.5 billion ($21.7 million) across 63,579 trades, with 350 stocks gaining, 128 declining, and 220 unchanged.

Phintraco Sekuritas attributed the gains to the weaker-than-expected US nonfarm payrolls data, which raised hopes that the Federal Reserve would keep interest rates unchanged in October. The US nonfarm payrolls increased by just 29,000 in September, falling short of the 90,000 estimate, while the unemployment rate rose to 4.2%. US stocks ended higher on Friday, with the S&P 500 gaining 0.73%, the Nasdaq Composite rising 1.19% to close at a record 27,190, and the Dow Jones Industrial Average adding 0.49%.

In commodities, oil prices edged lower after G7 countries announced plans to release 100 million barrels from their strategic reserves. Spot gold fell 0.8% to $4,145 per troy ounce amid a stronger US dollar and higher US bond yields. Phintraco Sekuritas noted that global investors would continue to monitor developments in the Middle East conflict and movements in government bond markets.

Domestically, Bank Indonesia (BI) remains focused on maintaining rupiah stability without tightening monetary policy. BI is providing incentives such as reduced hedging costs, which have facilitated around $7 billion in capital inflows since September 2026. The Macroprudential Liquidity Incentive (KLM) for the housing, real estate, and construction sectors had reached Rp 118 trillion, used by 111 banks. Investors will also monitor several economic indicators this week, including foreign exchange reserves on Oct. 7 and the consumer confidence index on Oct. 8.