JAKARTA – The Jakarta Composite Index (IHSG) of the Indonesia Stock Exchange (IDX) concluded trading on Friday, April 10, 2026, afternoon with a significant gain. This upward movement occurred amidst a prevailing “wait and see” sentiment among market participants, who closely monitored upcoming diplomatic discussions between the United States (US) and Iran slated for this weekend in Islamabad, Pakistan. The IHSG closed up 150.91 points, or 2.07 percent, reaching 7,458.50. Concurrently, the LQ45 index, representing 45 blue-chip stocks, also saw a robust increase of 12.57 points, or 1.71 percent, settling at 746.47.
“The IHSG strengthened, mirroring gains observed on Wall Street overnight, as negotiations between the US and Iran continue in an effort to resolve the six-week-long Middle East conflict,” stated Maximilianus Nico Demus, Associate Director of Research and Investment at Pilarmas Investindo Sekuritas, in his Jakarta review on Friday, April 10, 2026.
Internationally, market players keenly anticipated the diplomatic talks in Islamabad, Pakistan, scheduled for the weekend. US Vice President JD Vance is slated to lead the American delegation in discussions with Iranian officials. Despite the positive closing, caution remained a dominant sentiment. “However, sentiment remains cautious amid ongoing Israeli attacks on Lebanon, coupled with persistent disruptions in the Strait of Hormuz, which could potentially complicate these crucial negotiations,” Nico added.
On the macroeconomic front, investors also awaited the release of the US Consumer Price Index (CPI) data for March 2026, expected Friday evening. This data is crucial for assessing the Middle East conflict’s potential impact on inflation. Furthermore, the minutes from the Federal Open Market Committee (FOMC) meeting of the US Central Bank (The Fed) in March 2026 indicated that policymakers were concerned the conflict could sustain inflationary pressures, potentially necessitating additional interest rate hikes, even though a single rate cut is still projected for the year.
Domestically, Indonesia’s Consumer Confidence Index (CCI) experienced a decline, dropping to 122.9 in March 2026 from 125.2 in February 2026. This marks its lowest level since October 2025. Despite this, the IHSG opened strong and maintained its positive trajectory throughout the first trading session, remaining in the green zone until the market close.
An analysis of the IDX-IC Sectoral Index revealed widespread gains, with ten sectors strengthening. The industrial sector led the charge, surging by 4.09 percent, followed closely by the financial sector and the non-primary consumer goods sector, which advanced by 2.92 percent and 2.56 percent, respectively. In contrast, only one sector, healthcare, recorded a decline, albeit a marginal one of 0.04 percent.
Among individual stocks, the biggest gainers included CITY, WBSA, DIVA, OPMS, and PADI. Conversely, the largest decliners were KUAS, HDFA, MSKY, IPAC, and CTTH. Trading activity was robust, with a total of 2,287,124 transactions recorded. The volume of shares traded reached 42.94 billion, amounting to a value of Rp18.12 trillion. Overall, 485 stocks advanced, 181 weakened, and 153 remained unchanged.
Across the broader Asian region, most stock markets also finished stronger this afternoon. Japan’s Nikkei index climbed 1,063.18 points or 1.90 percent to 56,958.50, while the Shanghai index gained 20.05 points or 0.51 percent to 3,986.22. Hong Kong’s Hang Seng index rose 141.14 points or 0.55 percent to 25,893.54, and the Strait Times index in Singapore strengthened by 7.67 points or 0.15 percent to 4,984.80.
Rupiah Weakens Amidst External Pressures
The Indonesian rupiah experienced a weakening trend at the close of trading on Friday, depreciating by 14 points or 0.08 percent to Rp17,104 per US dollar, down from its previous close of Rp17,090 per US dollar. Muhammad Amru Syifa, from the Research and Development division of Indonesia Commodity & Derivatives Exchange (ICDX), attributed the rupiah’s decline primarily to the market’s “wait and see” stance ahead of the eagerly anticipated US CPI data release.
“Although the rupiah initially appreciated to Rp17,083 at the start of the session, external pressures ultimately dominated, largely driven by the strengthening US dollar in anticipation of the US inflation figures,” he explained to Antara in Jakarta on Friday. Market expectations point to a likely increase in the US CPI, which would reinforce the outlook for a tighter monetary policy from the Federal Reserve, thereby underpinning the US dollar’s strength.
Adding to the pressure on the rupiah, ongoing geopolitical tensions in the Middle East and the potential for disruptions to global energy distribution have fueled demand for safe-haven assets. This heightened demand further contributed to the rupiah’s depreciation. Domestically, intervention by Bank Indonesia (BI) proved to be a critical pillar in maintaining exchange rate stability amid these global pressures.
Amru highlighted that BI Senior Deputy Governor Destry Damayanti has consistently emphasized that rupiah stabilization remains a top priority. This is achieved through interventions in both the spot and non-deliverable forward (NDF) markets, alongside a readiness to purchase government bonds in the secondary market. “Meanwhile, Bank Indonesia Governor Perry Warjiyo conveyed to the House of Representatives (DPR) that the central bank remains steadfast in preserving rupiah stability, including through interventions in both domestic NDF and offshore markets,” Amru concluded. Reflecting these dynamics, Bank Indonesia’s Jakarta Interbank Spot Dollar Rate (JISDOR) also weakened on Friday, settling at Rp17,112 per US dollar from its previous level of Rp17,082 per US dollar.