Jakarta. Indonesian stocks opened sharply higher on Monday, buoyed by a stronger external balance position and a rally on Wall Street after the US Supreme Court struck down President Donald Trump’s sweeping tariffs, lifting global risk appetite.

Jakarta Composite Index (JCI) jumped 62.77 points, or 0.76%, to 8,334.54 in early trade, moving within the 8,334–8,367 range.

RTI data showed that 1.88 billion shares had changed hands in the opening minutes, with total turnover reaching Rp 780.72 billion ($46.34 million) across 102,586 transactions. A total of 352 stocks advanced, 105 declined and 224 were unchanged.

Bank Indonesia reported that Indonesia’s balance of payments (BOP) posted a $6.1 billion surplus in the fourth quarter of 2025, reversing from a $6.4 billion deficit in the third quarter. The surplus was mainly supported by a positive capital and financial account, while the current account deficit remained relatively low.

Pilarmas Investindo Sekuritas said the BOP performance underpinned Indonesia’s external resilience amid rising global financial market uncertainty. For 2026, the brokerage projected the BOP to remain solid, with the current account deficit maintained at a low range of 0.1% to 0.9% of GDP.

BRI Danareksa Sekuritas noted that the market is closely watching ongoing communication progress between the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX) regarding proposals submitted to MSCI and FTSE. It also highlighted developments following the US Supreme Court’s decision to cancel Trump’s tariff policy, which could potentially reopen room for further Indonesia–US trade negotiations.

In addition, the release of domestic M2 money supply data is seen as a near-term catalyst for the market.

CGS International Sekuritas said Wall Street’s rally, following the annulment of import tariffs imposed under the International Emergency Economic Powers Act (IEEPA), is expected to provide positive sentiment to the domestic market. Rising prices of key commodities such as tin, nickel, gold, coal and copper are also likely to add support to the benchmark index.

On Friday, Wall Street closed higher after the US Supreme Court struck down Trump’s sweeping tariffs. The S&P 500 rose 0.7%, the Dow Jones Industrial Average gained 230 points or 0.5%, and the Nasdaq Composite advanced 0.9%.

Despite the ruling, Trump indicated that tariffs would remain in place through alternative mechanisms. He said the US would still impose tariffs, but in a different way, and announced plans to sign an executive order introducing a 10% global tariff under a law that could limit it to 150 days. He added that investigations through the Commerce Department were underway to determine further tariff measures.

Trump also remarked that other countries might be celebrating the court’s decision for now, but suggested such celebrations would not last.

Market participants largely anticipated the ruling, said Brian Jacobsen, chief economic strategist at Annex Wealth Management, noting that the relatively muted reaction reflected expectations already priced in. He added that investors remained cautious while assessing the long-term implications.

Meanwhile, US economic data showing slowing growth and faster inflation highlighted the difficult position facing the Federal Reserve. However, traders’ expectations for monetary policy were largely unchanged, with markets still pricing in at least two rate cuts this year, according to CME Group data. Some bets on the timing of the first cut shifted slightly later into the summer.

In Asia on Monday, Japan’s Nikkei slid 0.85% to 56,979, while South Korea’s Kospi rose 1.61% to 5,903. Hong Kong’s Hang Seng gained 1.43% to 26,798, and China’s Shanghai SSE fell 0.46% to 4,115.

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