TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) on the Indonesia Stock Exchange (IDX) weakened on Monday, July 27, 2026, ahead of the US Federal Reserve (The Fed) meeting. The JCI opened down 10.63 points, or 0.17 percent, to 6,185.80. Meanwhile, the LQ45 Index, a group of 45 blue-chip stocks, fell 2.07 points, or 0.34 percent, to 612.72.
"The JCI is expected to trend lower, with support at 6,060 and resistance at 6,300. As long as the JCI remains above the 6,060 support area, the pressure is expected to be a reasonable correction in response to market sentiment," said Hendra Wardana, Founder of Republik Investor, as quoted by Antara on Monday, July 27, 2026.
From abroad, Hendra explained that the decline in crude oil prices could ease concerns about a spike in global inflation. This will reduce pressure on the central bank's interest rate policy and reduce the risk of rising energy costs for businesses.
For Indonesia, which still imports oil, he stated that weakening oil prices also have the potential to provide positive sentiment for domestic inflation, the trade balance, and the stability of the rupiah exchange rate.
"There is positive sentiment that has the potential to limit pressure on the stock market. Brent crude oil prices, which previously approached US$100 per barrel, have now corrected by around 4.5 percent to around US$87 per barrel," said Hendra.
Meanwhile, market players will be closely monitoring the US Federal Open Market Committee (FOMC) meeting on July 28-29, 2026, this week, to determine the direction of its benchmark interest rate policy.
In addition, market players will be closely monitoring the policy direction of the Bank of Japan (BoJ) and the Bank of England (BoE) and US PCE inflation data. Then there's US economic growth in the second quarter of 2026, US durable goods orders data, the Chinese Politburo meeting, and the Chinese manufacturing PMI.
Domestically, Hendra also responded to the resignation of Bank Indonesia Governor Perry Warjiyo. He assessed that the appointment of Senior Deputy Governor Destry Damayanti as Acting Governor of BI signals that monetary policy continuity remains intact.
According to him, Destry has been part of Bank Indonesia's policy formulation in recent years, so the market tends to assume there will be no significant policy changes during the transition period.
"This is also reflected in the rupiah's relatively stable movement at around Rp17,953 per US dollar, a weakening of around 0.23 percent, indicating that the market has not overreacted to the news," Hendra said.
For investors, he explained that the position of BI Governor is a vital one because every decision regarding the benchmark interest rate, exchange rate policy, inflation control, and macroprudential policy will affect the movement of the rupiah, the bond market, and the Jakarta Composite Index (JCI).
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