The Jakarta Composite Index (IHSG) opened higher by 4 points or 0.06 percent at 7,331 on Thursday, December 5, 2024. This positive start was predicted by Fanny Suherman, the Head of Retail Research Analyst at BNI Sekuritas. According to Fanny, IHSG is expected to continue its upward trend and attempt to break resistance levels, aiming for a range between 7400-7500 on the same trading day.
In the Asian market, most indices experienced a slight decline on the previous Wednesday. The Nikkei 225 in Japan rose by 0.07 percent, while the Taiex in Taiwan strengthened by 0.99 percent. On the other hand, the Hang Seng in Hong Kong dropped slightly by 0.02 percent, and the Kospi in South Korea plummeted by 1.44 percent. Additionally, the CSI 300 in China decreased by 0.54 percent, and the S&P/ASX 200 in Australia also weakened by 0.38 percent. However, the FTSE Straits Times and FTSE Malay showed gains of 0.41 percent and 0.42 percent, respectively.
Fanny also highlighted the real economic growth in Australia, which grew by 0.8 percent in the third quarter of 2025. This figure fell short of the expected 1.1 percent, as reported by the Australian Bureau of Statistics. Meanwhile, in South Korea, the financial market faced challenges due to political uncertainties, including the brief imposition and subsequent revocation of martial law. The Ministry of Finance in South Korea reassured investors by stating its readiness to inject liquidity “without limits” into the financial market if necessary. The financial regulator is prepared to utilize market stabilization funds amounting to KRW10 trillion or approximately US$7.07 billion.
Fanny advised that the support level for IHSG is at 7220-7280, with resistance levels at 7400-7500. Investors are closely monitoring the market situation and political developments that could impact future trading sessions.
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