Jakarta Composite Index Seen Drifting Lower on Profit-Taking Ahead of Tuesday Open

The Jakarta Composite Index closed at 7,606.19 on Monday, gaining 61.89 points, or 0.8%, extending a two-session rally that has added nearly 120 points, or 1.6%, in total. However, profit-taking looms as Tuesday’s opening approaches, with the index poised just above the 7,600-level.

Asian markets face a mixed-to-lower outlook broadly, as investors rotate profits after recent optimism around interest-rate expectations. European sessions were mixed, U.S. equities closed weaker, and Asian benchmarks are likely to reflect that combined sentiment.

Monday’s advance was led by financials and resource stocks, though weakness in the cement sector capped gains across the board.

Among active names, Bank CIMB Niaga added 0.79%, Bank Danamon Indonesia rose 2.31%, Bank Negara Indonesia gained 1.38%, and Bank Rakyat Indonesia surged 2.91%. Bank Maybank Indonesia fell 4.80%, Indocement dipped 1.40%, and Semen Indonesia slipped 0.74%. Indofood Sukses Makmur climbed 2.24%, United Tractors added 0.09%, Astra International rose 0.98%, Energi Mega Persada gained 0.95%, Aneka Tambang jumped 2.07%, Jasa Marga advanced 0.46%, Vale Indonesia rose 0.26%, and Timah soared 2.91%. Bank Central Asia, Bank Mandiri, Astra Agro Lestari, and Indosat Ooredoo Hutchison (up 1.42%) finished unchanged.

Wall Street’s lead was soft, with major averages opening marginally higher before reversing. The Dow Jones closed down 0.02 points at 41,175.08, the NASDAQ fell 152.03 points, or 0.85%, to 17,725.77, and the S&P 500 lost 17.77 points, or 0.32%, to 5,616.84. Mild support from 3M, Coca-Cola, and Walt Disney was offset by broad semiconductor weakness, with the Philadelphia Semiconductor Index dropping 2.5%. Nvidia, a leading AI name, slid 2.3% ahead of its fiscal second-quarter earnings on Wednesday.

On the economic front, the Commerce Department reported a sharp jump in July orders for U.S. manufactured durable goods. Crude oil rallied sharply on geopolitical tensions along the Lebanon-Israel border, with West Texas Intermediate for October delivery rising $2.36, or 3.2%, to $77.19 a barrel.

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