February 5, 2026 | 12:50 pm
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) strengthened this morning amid market participants adopting a wait-and-see attitude towards Indonesia's Gross Domestic Product (GDP) growth data throughout 2025, which will be announced by Statistics Indonesia (BPS).
The JCI this morning opened up by 20.63 points or 0.25 percent to 8,167.35. Meanwhile, the group of 45 leading stocks (LQ45) rose 2.69 points or 0.32 percent to 835.49.
"The JCI has the potential to move within the range of 8,000-8,300," said capital market observer Reydi Octa when contacted in Jakarta on Thursday, February 5, 2026, as quoted from Antara.
The movement of the JCI over the next two days will be determined by several factors, including the continuation of dealing with Morgan Stanley Capital International (MSCI). "If there is progress in the dialogue, it could ease volatility pressure, but if not, selling pressure could persist," said Reydi.
Domestically, market participants are also watching BPS, which will release Indonesia's economic growth data throughout 2025. Previously, consensus estimated economic growth of 5 percent (yoy) in 2025, down from 5.3 percent (yoy) in 2024.
Meanwhile, economic growth in the fourth quarter of 2025 is estimated at 5.2 percent (yoy) and 1.9 percent (qoq) compared to the previous 5.04 percent (yoy) and 1.43 percent (qoq) in the third quarter of 2025.
Previously, the Financial Services Authority (OJK) aimed to gradually achieve a 15 percent free float over the course of three years. This will be done carefully, gradually, and measurably. When implementing the plan, the OJK and the IDX will consider each issuer's readiness, market conditions, and investor absorption capacity.
Meanwhile, internationally, market participants will closely examine retail sales data from the European region in December 2025. This data is expected to show a 2.3 percent (yoy) increase, up from 2 percent in November 2025. Furthermore, market participants are awaiting the European Central Bank (ECB) meeting. The ECB is expected to maintain its benchmark interest rate at 2.15 percent and its deposit facility rate at 2 percent. The Bank of England (BoE) is also expected to keep its interest rate at 3.75 percent.
In Wednesday's trading, the U.S. stock exchange on Wall Street moved variably, including the S&P 500 Index down 0.51 percent to 6,882.72, the Nasdaq index fell 1.51 percent to 22,904.58. Meanwhile, the Dow Jones Industrial Average index rose 0.53 percent to 49,501.30,
Meanwhile, this morning, the regional Asian stock exchanges uniformly weakened. For example, the Nikkei Index weakened by 331.89 points or 0.61 percent to 53,961.50, the Shanghai index weakened by 30.94 points or 0.75 percent to 4,071.26, the Hang Seng index weakened by 219.13 points or 0.82 percent to 26,628.18, and the Straits Times index weakened by 9.50 points or 0.19 percent to 4,955.99.
Read: OJK Responds to Indonesian Police Crackdown on Stock Manipulation
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