Jakarta. Jakarta stocks opened higher on Wednesday, with the Jakarta Composite Index (JCI) gaining 25 points, or 0.39%, to 6,625.

In the opening minutes, 1.27 billion shares changed hands, generating Rp 744.12 billion ($41.9 million) in trading value across 99,368 transactions, according to RTI data. A total of 251 stocks gained, 156 declined, and 259 were unchanged.

Domestic economic data remained mixed. Inflation accelerated to 3.19% year-on-year in August 2026 from 2.88% in July, driven by higher food and transportation prices as well as an increase in core inflation to 2.96% from 2.76%, Phintraco Sekuritas said.

Meanwhile, Indonesia's manufacturing PMI slipped back into contraction territory at 49.8 in August from 50.2 in July. While below the 50-point threshold, the reading was still better than the levels recorded in April and June.

Kiwoom Sekuritas Indonesia said Indonesia's trade balance could continue to face downside risks through the end of 2026 as strong domestic demand drives imports higher, while exports could come under pressure from slowing global demand and geopolitical uncertainty.

“Meanwhile, unexpectedly, the trade balance recorded a $0.13 billion surplus in July 2026 after posting deficits for two consecutive months,” Phintraco Sekuritas said.

Bank Permata estimates that Indonesia's current account deficit could widen sharply to 2.49% of GDP in 2026 from 0.09% in 2025, while foreign exchange reserves are projected to decline to around $143 billion-$147 billion by the end of the year.

Looking ahead, Phintraco Sekuritas said the government is targeting 6% economic growth in 2027. Achieving that target would require investment growth to accelerate to 7%.

“The economic growth target will serve as the main direction for economic and fiscal policy in the formulation of the 2027 state budget,” Phintraco Sekuritas said.

Government investment is expected to act as a catalyst, while the private sector is being encouraged to become the main driver of investment. Danantara is also expected to contribute to investment in strategic sectors and downstream industries.

Global market pressures also remained in focus. Pluang Research said the failure of Bessent's intervention showed that a single technical measure was insufficient to ease market concerns over rising US debt and inflation.

The 30-year US Treasury yield returned to 5.28%, the same level seen before the buyback program was expanded in mid-August, while the 10-year yield climbed to its highest level since early 2025.

“This pressure is not unique to the US, as long-term government bond yields in Germany and the UK have also reached their highest levels in more than a decade. For assets such as gold and Bitcoin, however, the situation has become a positive catalyst as investors seek alternatives outside dollar-denominated assets or fiat currencies whose value is being eroded,” Pluang Research said in its Wednesday report.

“We maintain our 12-month targets of $5,200 per troy ounce for gold and $100,000 for Bitcoin,” it added.

Wall Street closed lower on Tuesday, with the Nasdaq Composite falling 1.03%, the S&P 500 losing 0.71%, and the Dow Jones Industrial Average declining 0.79%.

“This weakness followed the market's positive performance throughout August, as investors are now adjusting their portfolios amid rising global market volatility,” Kiwoom said.

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