February 9, 2026 | 09:32 am
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) weakened 4.73 percent to 7,935 last week. Imam Gunadi, Equity Analyst at PT Indo Premier Sekuritas (IPOT), stated that last week's decline was primarily influenced by sentiment from Morgan Stanley Capital International (MSCI). Moody's also downgraded its outlook for Indonesia and several issuers.
Meanwhile, globally, Imam noted the geopolitical tensions between the United States and Iran. He stated that geopolitical risks remain high due to the US imposing new sanctions related to Iranian oil exports.
"Overall, with global and domestic caution remaining high, market movements this week are projected to fluctuate, with a limited weakening trend, with support at 7,716 and resistance at 8,207," Imam said in an official statement on Monday, February 9, 2026.
Imam explained that, heading into the February 9-13, 2026 period, market attention will be focused on a number of important economic data releases from the United States, China, and Indonesia. In the US, inflation data is the main focus, with a projected decline to 2.5 percent year-on-year. Furthermore, in China, the market will be closely monitoring the release of inflation data, which is projected to decline to 0.4 percent year-on-year.
Domestically, investors are focused on the release of December 2025 retail sales as an indicator of consumer purchasing power as the year draws to a close, as well as January 2026 car sales data, which will provide an initial overview of domestic consumption and demand trends at the start of the year. "This data will provide further confirmation of the resilience of household consumption, which has been a key driver of Indonesia's economic growth," said Imam.
In addition to economic data releases, Imam said, the market will also continue to monitor Moody's policy developments, particularly their impact on Indonesian companies that have experienced downgraded outlooks. This is because the downgrades have the potential to impact risk perceptions, funding costs, and investor sentiment.
Read: Stock Market Recap: JCI Weakens 4.73%, Capitalization Falls
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