Gotrade News - Indonesia's main stock index, the IHSG, is expected to extend losses on Monday (May 4) toward the 6,838 level after closing 2.03% lower at 6,956 in the previous session. Investors are awaiting domestic inflation and trade balance data as the next key catalysts.
Selling pressure has dominated the past week, with the index losing 2.42% on a weekly basis. Global sentiment also remains in focus after easing Middle East tensions helped US equities hit fresh records last week.
Key Takeaways
- IHSG support sits at 6,838 and 6,745, with resistance at 7,022 and 7,240 according to MNC Sekuritas.
- Global commodity proxies such as Newmont (NEM) are reference points for gold and mining exposure.
- The next catalysts are Indonesia's April inflation print and trade balance release.
MNC Sekuritas analyst Herditya Wicaksana said the index is vulnerable to a correction within the 6,645 to 6,838 range on Monday. He sees nearby resistance at 7,022 with a higher target at 7,240 if sentiment improves.
Hendra Wardana of Republik Investor sees limited rebound potential toward 7,100 if geopolitical sentiment stays constructive. He places support between 6,850 and 6,900 with short-term resistance at 7,050.
Analyst Stock Picks
MNC Sekuritas recommends Aneka Tambang (ANTM) on a Buy on Weakness strategy in the 3,550 to 3,710 range. Price targets are placed at 3,910 and 4,130 with a stop loss below 3,450.
Charoen Pokphand Indonesia (CPIN) is rated as a Trading Buy at 3,990 to 4,000. Targets sit at 4,190 and 4,260 with a stop loss below 3,970.
Mitra Adiperkasa (MAPI) and Darma Henwa (DEWA) round out the broker's Buy on Weakness list. Global mining exposure via the VanEck Gold Miners ETF (GDX) can complement these picks for portfolio diversification.
Pilarmas Investindo Sekuritas adds Bumi Resources (BUMI), AKR Corporindo (AKRA) and Alamtri Resources Indonesia (ADRO) to its watchlist. The energy sector is expected to normalise as global oil prices retreat.
Banks, consumers and property names that are sensitive to inflation and rates are receiving positive sentiment ahead of the data release. International investors comparing exposure can benchmark against Bank of America (BAC) for a global financial reference.
Sources
Kompas, IHSG Predicted to Correct Ahead of Inflation and Trade Balance Data, 2026.
Liputan6, IHSG Prediction and Stock Recommendations for May 4, 2026, 2026.
