RRI.CO.ID, Jakarta - The Indonesia Stock Exchange (IDX) started the week on a positive trajectory, with the Jakarta Composite Index (JCI) opening in green territory as market participants strategically position themselves ahead of the central bank's (Bank of Indonesia) upcoming policy signals.

Despite a volatile global landscape marked by new geopolitical friction in the West, local sentiment remains cautiously optimistic about the domestic economic outlook.

The JCI opened with a gain of 23.29 points or 0.26 percent, reaching a position of 9,098.70, while the LQ45 index of liquid stocks rose by 0.21 percent to 891.27. Market analysts suggest that while the opening was strong, the index may fluctuate as investors adopt a "wait and see" stance regarding Bank Indonesia's (BI) Board of Governors Meeting (RDG) scheduled for January 20-21.

Ratna Lim, Head of Research at Phintraco Sekuritas, provided an upbeat outlook for the short-term movement of the index.

"The JCI is expected to test the 9,100-9,200 level this week," she noted in a research report released on Monday, January 19, 2026, as quoted by

Market consensus expects the central bank to maintain the BI-Rate at 4.75 percent, a move aimed at stabilizing the rupiah amid its recent weakening trend. Furthermore, investors are closely monitoring December’s credit growth data, which is projected to show a slight deceleration to 7.6 percent year-on-year.

Domestic optimism faces a backdrop of complex international developments. In the United States, investors are bracing for the Fourth Quarter 2025 GDP figures and the latest Personal Consumption Expenditures (PCE) price data.

Meanwhile, in Asia, eyes are on China’s Q4 2025 GDP results and the Bank of Japan’s monetary policy direction.

Geopolitical tensions have also re-emerged as a primary market concern. US President Donald Trump has recently announced a plan to impose tariffs on eight NATO members, including Germany, France, and the UK, as leverage in a bid to purchase Greenland.

The plan involves a 10 percent tariff starting February 1, 2026, which could escalate to 25 percent by June. This move has already triggered minor retreats in European and Wall Street markets, with the Dow Jones and S&P 500 closing lower last Friday.

Asian markets displayed a fragmented performance on Monday morning. While Jakarta and Shanghai saw modest gains, other regional indices struggled under the weight of global uncertainty. Japan's Nikkei dropped more than 1 percent, and Singapore's Straits Times Index slipped by 0.44 percent. ***