Indonesia's Composite Stock Price Index (IHSG) opened higher on Thursday (February 5, 2026) by 20.63 points or 0.25 percent to 8,167.35, amid investor focus on 2025 GDP data and MSCI developments. Market participants remain cautious awaiting the economic growth release projected at 5 percent year-on-year.
At the market open on Thursday morning, Indonesia's Composite Stock Price Index (IHSG) on the Indonesia Stock Exchange (BEI) rose 20.63 points or 0.25 percent to 8,167.35. Meanwhile, the LQ45 index gained 2.69 points or 0.32 percent to 835.49. This positive movement comes as market participants adopt a wait-and-see approach toward Indonesia's 2025 gross domestic product (GDP) data, released by the Central Statistics Agency today.
Market consensus projects 2025 GDP at 5 percent (year-on-year), down from 5.3 percent in 2024. For Q4 2025, estimates are 5.2 percent (yoy) and 1.9 percent (quarter-on-quarter), compared to 5.04 percent (yoy) and 1.43 percent (qoq) in Q3. "IHSG is potentially moving in the range of 8,000-8,300," said market observer Reydi Octa in Jakarta.
Another influencing factor is ongoing discussions on the Morgan Stanley Capital International (MSCI). "If progress is seen in the dialogue, it could ease volatility pressures, but if not, selling pressure may continue," Reydi added. The Financial Services Authority (OJK) targets a gradual increase in free float to 15 percent over three years, considering issuer readiness and market conditions.
Globally, Wall Street was mixed on Wednesday: the S&P 500 fell 0.51 percent to 6,882.72, Nasdaq dropped 1.51 percent to 22,904.58, while the Dow Jones rose 0.53 percent to 49,501.30. Asian markets were mostly lower this morning, with the Nikkei down 0.61 percent to 53,961.50 and Shanghai 0.75 percent to 4,071.26.
However, one report mentioned an IHSG open at 8,154 with a 7-point gain, contradicting primary BEI data. Investors are also monitoring December 2025 European retail sales data (projected at 2.3 percent yoy) and ECB and BoE meetings expected to hold interest rates steady.
