February 23, 2026 | 11:27 am
TEMPO.CO, Jakarta - Equity Analyst at PT Indo Premier Sekuritas (IPOT), David Kurniawan, predicts that the Jakarta Composite Index (JCI) will be within the support range of 8,200 and resistance at 8,400 for the period of February 23-27, 2026.
David stated that the JCI's movement this week will be influenced by sentiment surrounding the finalization of the meeting results of the Indonesia Stock Exchange (IDX), the Financial Services Authority (OJK), and Morgan Stanley Capital International (MSCI).
He views capital market reform measures, ranging from data categories for 28 investor groups to the target of a minimum free float increase of 15 percent by March 2026, as positive signals eagerly awaited by market participants. "If share ownership transparency above 1% is successfully and firmly implemented, foreign investor confidence is predicted to recover," he said in a written statement on Monday, February 23, 2026.
Last week, the JCI strengthened 0.71 percent to 8,271. According to David, the JCI's strengthening has not been significant because the market is still overshadowed by global sentiment, namely geopolitical tensions between the United States and Iran.
To navigate this week's market, David advised both investors and traders to adopt a selective and defensive stance, focusing on issuers with strong fundamentals and high liquidity. "Meanwhile, traders need to be disciplined in implementing stop-loss orders and be prepared to take advantage of sector rotation into energy stocks if US-Iran geopolitical tensions continue to drive up oil prices," he said.
Last week, the IDX and the Financial Services Authority (OJK) provided updates on proposals submitted to global index providers MSCI and FTSE Russell. Acting IDX President Director Jeffrey Hendrik stated that disclosure of 1 percent shareholder data and data granularization have reached the final stages.
"The rule-making process for the listing regulations related to the 15 percent free float was completed on February 19th," Jeffrey said in a press conference at the Indonesia Stock Exchange on Friday, February 20, 2026. He said that the changes to the share listing regulations are currently in the finalization stage within the exchange, before the draft regulations are submitted to the Financial Services Authority (OJK).
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