Jakarta, CNBC Indonesia \u2013 The Jakarta Composite Index (JCI) weakened\nagain during the first trading session today. At 09:35 WIB, it stood at\n5,209.5, down 69.39 points, or 1.31%.<\/p>\n
The JCI had opened higher at 5,310.85 and briefly reached a daily\npeak of 5,326.96, but selling pressure then pushed it steadily lower.\nThe day\u2019s low was recorded at 5,204.79.<\/p>\n
The index fluctuated between 5,230 and 5,300 around the middle of the\nsession. After rebounding towards 5,270\u20135,280, it came under renewed\npressure and moved towards the 5,210 area.<\/p>\n
Trading volume stood at 90.27 million lots, with transactions valued\nat Rp5,237.63 billion.<\/p>\n
Market participants are expected to monitor how the Indonesia Stock\nExchange (IDX), the government and Danantara respond to MSCI\u2019s\nannouncement, alongside share buybacks by several conglomerate-owned\ncompanies and President Prabowo Subianto\u2019s direction to strengthen\nenforcement of capital-market rules.<\/p>\n
Indonesia\u2019s financial markets on Wednesday (21 October 2026) remained\nin the shadow of several significant domestic and international factors.\nInvestors\u2019 main focus was on Bank Indonesia\u2019s (BI) interest-rate\nannouncement, while China\u2019s central bank decision to hold rates and the\nrelease of UK employment data also influenced market sentiment.<\/p>\n
Market optimism was mainly driven by Danantara\u2019s plan to increase its\nholdings in several state-owned enterprises (SOEs) with strong\nfundamentals. Danantara chief executive Rosan Roeslani said falling\nshare prices presented a long-term investment opportunity. He said bank\nshares were now relatively cheap, with an average price-to-book value\n(PBV) below one, despite the banking sector remaining healthy and\noffering attractive dividends. Purchases would be made gradually, taking\nmarket conditions into account. The plan was bolstered by the IDX\u2019s\nproposal to exclude highly concentrated shareholdings (HSC) from JCI\ncalculations, as well as President Prabowo\u2019s instruction for the\nFinancial Services Authority (OJK) to tighten capital-market\nenforcement.<\/p>\n
However, concerns over MSCI have not fully receded. Fears that\nIndonesia could be downgraded from Emerging Market to Standalone Market\nwere the main trigger for heavy selling last week. The market is now\nawaiting the actual implementation of Danantara\u2019s share purchases and\nwatching to see whether the rally in SOE shares can continue.<\/p>\n
The focus is now on BI. Its Board of Governors meeting, which began\non Tuesday, is due to announce its interest-rate decision today, amid a\nrupiah that had at one point again breached Rp18,000 per US dollar. A\nCNBC Indonesia Research poll of 13 institutions found that 10 expected\nBI to raise its rate by 25 basis points to 6.00%. The other three\nforecast that it would remain at 5.75%. If implemented, the increase\nwould be the first after BI held rates steady for three consecutive\nmonths, following cumulative increases of 100 basis points in May and\nJune 2026.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/breaking-jci-falls-1-1792554630", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }