Jakarta. Jakarta Composite Index (JCI) opened higher and pushed toward the 7,000 mark on Monday morning, rising 32 points or 0.46% to 6,988, with early trades briefly testing the 7,007 level.

Early trading remained active, with 7.01 billion shares changing hands worth Rp 697.33 billion ($40.2 million) across 81,476 transactions. Gainers dominated at 342 stocks, against 135 decliners, while 219 were unchanged.

Phintraco Sekuritas said the benchmark is at a key juncture this week as it tests the psychological 7,000 level, projecting movement within a range of 6,850–7,150, with 7,000 as the pivot.

Oil prices weakened after Iran sent a new peace proposal to the United States via Pakistan, though President Donald Trump later said he was not satisfied with the offer. Trump is also facing a 60-day deadline under the War Powers Resolution related to military actions tied to the Iran conflict. His administration argues that a ceasefire in place since April 7, 2026 has effectively ended hostilities, allowing him to avoid seeking congressional approval.

“Investors will monitor the potential for another round of talks between the US and Iran,” Phintraco Sekuritas wrote in a note on Monday. “They will also watch US labor data and ISM services data.”

Domestically, investors are looking ahead to a series of key releases this week, including manufacturing PMI, trade balance and inflation data due Monday, followed by first-quarter 2026 GDP on Tuesday, as well as foreign reserves, property price index and car sales data.

Phintraco also highlighted widening fiscal pressures. Indonesia’s 2026 state budget recorded a deficit of Rp 240.1 trillion ($13.8 billion) as of end-March, equivalent to 0.93% of GDP, up from 0.43% a year earlier. The wider deficit reflects a 31.4% surge in government spending to Rp 815 trillion, while revenue reached Rp 574.9 trillion, or 18.2% of the full-year target.

“Investors will be watching fiscal developments closely, particularly concerns over discipline and the potential impact on the broader economy,” the brokerage said.

Regionally as of 9:16 a.m. Jakarta time, South Korea’s Kospi jumped 3.74% to 6,845, while Hong Kong’s Hang Seng rose 1.76% to 26,230.

Markets in Japan and China were closed for national holidays.

On Friday, US stocks closed at fresh records, supported by stronger-than-expected corporate earnings and easing oil prices. The S&P 500 gained 0.3% to a new all-time high, marking its fifth consecutive weekly advance, the longest streak since 2024. The Dow Jones Industrial Average slipped 152 points, or 0.3%, while the Nasdaq Composite climbed 0.9% to a record.

Apple led gains after reporting quarterly profit and revenue above expectations. The iPhone maker’s 3.3% rally provided the biggest boost to the S&P 500, reflecting its outsized weight in the index.

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