Jakarta. Jakarta Composite Index (JCI) opened higher on Wednesday, rising 21.04 points, or 0.26%, to 8,152.78, extending the previous session’s gains. The index moved between 8,148 and 8,174 in early trade.

RTI data showed 970.78 million shares changing hands in the opening minutes, with trading value reaching Rp 581.47 billion ($34.66 million) across 78,313 transactions. Gainers outnumbered losers, with 349 stocks advancing, 97 declining, and 216 unchanged.

BRI Danareksa Sekuritas said the JCI still has room for limited upside, projecting support at 8,000–8,040 and resistance at 8,200–8,214. The brokerage cited easing global risk-off sentiment and continued discussions between MSCI, the Financial Services Authority (IDX), and the Indonesia Stock Exchange on transparency, investability, and free float as key catalysts. Investors are also watching upcoming US labor data, including nonfarm payrolls and the unemployment rate, for additional direction.

On the domestic front, the Finance Ministry is targeting stronger tax revenue to keep the fiscal deficit below 3% of GDP and lift the tax ratio to 11%–12% by 2026, after it slipped to around 9% amid the 2025 economic slowdown. The effort includes expanding digital transaction taxes, broadening excise coverage, strengthening customs enforcement, and optimizing non-tax state revenue, particularly in natural resources, through the SIMBARA system, to preserve fiscal space as spending needs rise.

Pilarmas Investindo Sekuritas said improved tax collection could reinforce fiscal discipline and sustain investor confidence by maintaining the deficit below the statutory cap while enabling priority spending without aggressive debt expansion. However, the firm cautioned that tighter supervision and enforcement may raise short-term compliance costs for businesses, underscoring the need for balanced incentives to avoid weighing on economic growth.

Global markets offered mixed cues.

On Wall Street, the S&P 500 slipped 0.3% after briefly topping its record high, while the Dow Jones Industrial Average gained 52 points, or 0.1%, to a fresh peak. The Nasdaq Composite fell 0.6%. Flat US retail spending in December signaled potential cooling in household demand ahead of key labor and inflation reports later in the week, data that could shape the Federal Reserve’s interest-rate path. Expectations for rate cuts later this year have helped keep US equities near record levels, though persistent inflation could delay easing.

Across Asia, Japan’s Nikkei rose 0.79% to 56,812, South Korea’s Kospi edged down 0.15% to 5,293, Hong Kong’s Hang Seng gained 0.23% to 27,246, and China’s Shanghai Composite slipped 0.09% to 4,124.