Jakarta. Jakarta stocks opened higher on Monday, with the benchmark index rebounding as investors tracked developments in the fragile US-Iran ceasefire agreement and awaited key US inflation data, while MSCI's upcoming market classification review.

Jakarta Composite Index (JCI) rose 0.64% or 40 points to 6,217 at the opening bell, after moving within a range of 6,156 to 6,226.

By 9:10 a.m. Jakarta time, trading data from RTI showed turnover had reached Rp 1.58 trillion ($88,79 million), with more than 2 billion shares changing hands across over 189,000 transactions. Advancers outnumbered decliners by 274 to 252, while 193 stocks were unchanged.

Investor sentiment remained sensitive to developments in the Middle East after the United States and Iran reached an agreement to lift the blockade of the Strait of Hormuz. However, Iran said it would reimpose restrictions on Friday if several conditions under the peace deal remained unmet.

US Vice President said any economic assistance for Iran would depend on the country's compliance with the terms of the agreement. Iran's president described the deal as conditional and approved the memorandum only after receiving assurances that the country's rights would be protected.

The reopening of shipping traffic through the Strait of Hormuz remains a key focus for markets. Oil prices rebounded early Monday as investors reassessed the risks surrounding the implementation of the US-Iran agreement. Brent crude rose 1.35% to $81.66 per barrel after briefly touching $82.30.

Phintraco Sekuritas said investors would also monitor a series of US economic data releases this week, including the personal consumption expenditures (PCE) price index, durable goods orders, the University of Michigan consumer sentiment index, and regional Federal Reserve surveys.

Core PCE inflation is projected to increase 0.3% month-on-month in May, accelerating from 0.2% in April.

"Previously, the Fed raised its PCE inflation forecast for 2026 to 3.6% and 2.3% for next year. The core PCE inflation projection was also revised upward to 3.3% this year," Phintraco Sekuritas said in a research note.

Domestically, investors are awaiting Indonesia's M2 money supply data on Tuesday and MSCI's Annual Market Classification Review on Wednesday. While MSCI's latest Global Market Accessibility Review assigned a negative assessment to Indonesia's information flow criterion due to concerns over shareholder ownership transparency and indications of coordinated trading, the index provider stopped short of placing the country under review for reclassification. The report has been viewed as a warning over the quality of Indonesia's capital market, although analysts broadly expect the country to retain its emerging market status when MSCI announces its final decision on Wednesday.

Phintraco Sekuritas added that the Indonesia Stock Exchange plans to meet MSCI to clarify the findings of the MSCI Global Market Accessibility Review, which assigned a negative assessment to the information flow criterion.

Separately, Kiwoom Sekuritas Indonesia said the government would proceed with the mandatory B50 biodiesel program on July 1 after confirming the readiness of crude palm oil supply, fatty acid methyl ester (FAME) volumes, technical specifications, and industrial support.

The policy aims to strengthen Indonesia's energy security while supporting domestic demand for crude palm oil.

US markets were closed on Friday for the Juneteenth holiday.

As of 8:56 a.m. Jakarta time, Japan's Nikkei 225 gained 1.82%, South Korea's Kospi rose 1.99%, Hong Kong's Hang Seng fell 1.89%, while China's Shanghai Composite edged up 0.11%.