TEMPO.CO, Jakarta – Equity Analyst at PT Indo Premier Sekuritas (IPOT), Imam Gunadi, predicted that the Jakarta Composite Index (IHSG) will continue to be swayed by geopolitical sentiment this week, particularly the conflicts in the Middle East and the dynamics in the Strait of Hormuz.
He believed that while several economic indicators are slated for release, market direction will remain heavily tethered to these unpredictable geopolitical factors.
“Apart from these factors, there are several key data points that warrant attention,” Imam stated in a press release on Monday, April 20, 2026.
In China, investors are awaiting the release of the 1-year Loan Prime Rate (LPR), with a consensus estimate of 3.0 percent, and the 5-year LPR at 3.5 percent. These figures are expected to provide a clearer outlook on China’s upcoming monetary policy.
Meanwhile, in the United States, March retail sales data will be a focal point, with a consensus forecasting a 1.3 percent month-on-month growth. According to Imam, this metric is vital as it reflects consumer strength, the primary engine of the U.S. economy.
On the domestic front, the market will focus on Bank Indonesia’s interest rate decision, with a consensus set at 4.75 percent. Imam anticipated that the central bank will likely maintain the benchmark rate at this level to safeguard exchange rate stability and manage inflation.
Imam projected that the IHSG will fluctuate between a resistance level of 7,773 and a support level of 7,308. “Overall, the IHSG is likely to remain within that range, as the market continues to react to external developments,” he concluded.
Read: Indonesian Police Bust Syndicate Selling Fake US Dollars as ‘Macau Dollars’
Click here to get the latest news updates from Tempo on Google News