IHSG Opens Up 5 Percent Due to Trump's Delay of Some Tariffs

JAKARTA, KOMPAS - At the opening of the stock exchange on Thursday (10/4/2025), the Composite Stock Price Index (IHSG) turned green, growing by 5 percent to the level of 6,270. This aligns with analysts' predictions, noting price increases in the stock markets of the United States and other countries after Donald Trump announced a partial delay in import tariff duties.

Quoting RTI Business, the Jakarta Composite Index (IHSG) grew positively from the level of 5,967.99 at the close of trading on Wednesday (10/4/2025), driven by price increases in 386 stocks. This reversed the correction in 307 stocks at the end of yesterday's trading after foreign investors recorded a net sale of Rp 1.05 trillion.

Several prominent stocks that recorded significant percentage increases in share prices on Thursday morning include shares of PT Bank Central Asia Tbk, which rose by 5 percent to a price of Rp 8,300, and shares of PT Bank Rakyat Indonesia Persero Tbk, which surged by 5 percent to a price of Rp 3,830.

In addition, shares of PT Aneka Tambang Tbk rose by approximately 8 percent to a price of Rp 1,605, PT Mitra Adi Perkasa Tbk increased by 15 percent to a price of Rp 1,270, and PT Semen Indonesia Tbk grew by 8.6 percent to Rp 2,270.

The increase in stock prices aligns with the positive movement in the U.S. stock market on Wednesday (9/4) local time. Yesterday, U.S. exchanges closed higher, with the Dow Jones index rising by 7.87 percent, S&P 500 by 9.52 percent, and Nasdaq by 12.16 percent. The rise in stock prices also contributed to pushing the yield on 10-year U.S. Treasury bonds to 2.83 percent.

At the time this news was written, stock movements in other countries' exchanges also tended to strengthen. Japan's Nikkei 225, for instance, was growing by more than 8 percent, the Shanghai Composite Index rose by 1.49 percent, and Australia's ASX200 Index also increased by more than 4 percent.

The analysis by CGS International Sekuritas Indonesia this morning reported that the strengthening of the majority of indices, particularly in the U.S., occurred following the announcement by U.S. President Donald Trump to postpone the implementation of reciprocal U.S. import tariffs on several countries for 90 days.

IHSG in today's trading is predicted to be able to rebound with a support range of 5,843-5,719.

The announcement was made by Trump through his official X account on Wednesday afternoon Washington DC time or Thursday (10/4) early morning WIB. The delay was made by Trump in less than 24 hours since the reciprocal tariffs were officially imposed on dozens of countries.

With the temporary delay, import tariffs for dozens of countries, except China, were reduced to 10 percent for three months, while the US negotiated with the countries concerned. The 32 percent tariff imposed on Indonesia was also postponed. Meanwhile, import tariffs for China actually skyrocketed to 125 percent.

In addition to the Trump tariff delay factor, the greening of the stock market was also driven by the strengthening of several major commodity prices such as crude oil, gold, and natural gas.

Brent crude oil prices, for example, rose 4.2 percent to $65 a barrel after plunging to a four-year low. World gold prices also rose 3.3 percent to $3,083 a troy ounce.

Quoting Reuters, the increase in commodity prices occurred because Trump increased the tension of the trade war with China by increasing import tariffs for Chinese products from 104 percent to 125 percent, while he postponed the implementation of tariffs for many other countries.

With this condition, the JCI in today's trading is predicted to be able to rebound with a support range of 5,843-5,719 and resistance at the level of 6,091-6,215.

"There is also the potential for the rupiah to strengthen again against the US dollar, which will be a positive catalyst opportunity for today's trading," said CGS International Securities.