{ "success": true, "data": { "id": 1820139, "msgid": "indonesia-retains-emerging-market-status-war-tensions-ease-time-for-rupiah-and-jci-to-rebound-1782258638", "date": "2026-06-24 06:17:40", "title": "Indonesia Retains Emerging Market Status, War Tensions Ease: Time for Rupiah and JCI to Rebound", "author": "", "source": "CNBC", "tags": "", "topic": "Economy", "summary": "Indonesia's financial markets are poised for a positive shift after MSCI reaffirmed the country's emerging market classification. The Jakarta Composite Index and rupiah faced pressure on Tuesday amid global tech sell-offs and a strong US dollar, but easing US-Iran tensions and the MSCI decision may provide a catalyst for recovery.", "content": "

Indonesia\u2019s financial markets are expected to move positively today,\nWednesday (24\/6\/2026), especially following MSCI\u2019s announcement that it\nwill retain Indonesia in the Emerging Market category. The Jakarta\nComposite Index (JCI) weakened in trading on Tuesday (23\/6\/2026), amid\ncautious market sentiment as participants awaited the MSCI announcement.\nAt the close of the second session, the JCI fell 0.25%, or 15.36 points,\nto 6,101.33. During trading, the JCI was pressured deeper, touching a\nlevel of 5,993.04. Transaction value until the end of trading was\nrelatively busy, reaching Rp32.94 trillion with a trading volume of\n41.54 billion shares in 1.79 million transactions. In terms of stock\nmovement, 282 stocks rose, 373 stocks fell, and 160 stocks were\nstagnant. The most actively traded issuers were PT Dian Swastatika\nSentosa Tbk (DSSA), PT Chandra Asri Pacific Tbk (TPIA), PT Bank Central\nAsia Tbk (BBCA), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), and PT\nBank Mandiri (Persero) Tbk (BMRI). The majority of trading sectors\nactually strengthened. However, heavy pressure from several sectors and\nlarge-cap stocks kept the JCI in the red zone. The deepest correction\nwas recorded by the energy sector, which was pressured by 3.62%. Other\nsectors that weakened quite deeply were the financial and consumer\nsectors. Specifically, shares of PT Bayan Resources Tbk (BYAN), which\nentered the ex-date dividend period, were the main drag on the JCI,\ncontributing 20.66 index points of weakness. Other issuers that weighed\non the JCI\u2019s performance included BBCA, BMRI, and PT Merdeka Copper Gold\nTbk (MDKA). Turning to the exchange rate, pressure in the stock market\nwas also in line with the rupiah\u2019s weakening. The rupiah exchange rate\nagain had to close Tuesday\u2019s trading in the red zone against the US\ndollar. The weakening occurred amid the strengthening of the US dollar\nin the global market. Throughout trading, the rupiah moved in the range\nof Rp17,835-Rp17,870\/US.T<\/em>h<\/em>e<\/em>G<\/em>a<\/em>r<\/em>u<\/em>d<\/em>a<\/em>c<\/em>u<\/em>r<\/em>r<\/em>e<\/em>n<\/em>c<\/em>y<\/em>o<\/em>p<\/em>e<\/em>n<\/em>e<\/em>d<\/em>t<\/em>r<\/em>a<\/em>d<\/em>i<\/em>n<\/em>g<\/em>a<\/em>t<\/em>R<\/em>p<\/em>17,\u2006850\/U<\/em>S<\/em><\/span>,\nthen weakened deeper before the pressure eased towards the close. The\nrupiah\u2019s weakening was still influenced by external sentiment,\nespecially the dynamics of the US dollar\u2019s strengthening in the global\nmarket. The greenback\u2019s strengthening limited the room for appreciation\nof other countries\u2019 currencies, including the rupiah. The US dollar\nstrengthened amid lingering market concerns about the potential for\nhigher-for-longer interest rates in the United States. This condition\nemerged after the US central bank (The Federal Reserve\/The Fed)\nmaintained its benchmark interest rate in the range of 3.50%-3.75%. In\naddition, the Fed\u2019s latest interest rate projection, or dot plot, also\nindicated the possibility of high interest rates persisting longer. In\nfact, some Fed officials still estimate the potential for a rate hike at\nthe next meeting. However, the US dollar\u2019s strengthening was still\nrestrained by positive developments in US-Iran negotiations. Hopes for\npeace between the two countries made pressure on risky assets slightly\nmore limited, although market uncertainty has not fully subsided. From\nthe bond market, the yield on 10-year Government Securities (SBN) rose\nto 7.218% in Tuesday\u2019s trading. This increase marked the fourth\nconsecutive trading day of rising 10-year SBN yields. US stock markets,\nknown as Wall Street, closed lower in trading on Tuesday, or early\nWednesday morning Indonesian time. Pressure mainly came from a sell-off\nin technology stocks, particularly those related to memory chips and\nartificial intelligence (AI). The S&P 500 index fell 1.44% to\n7,365.46. The Nasdaq Composite, which contains many technology stocks,\ncorrected deeper, by 2.21% to 25,587.04. Meanwhile, the Dow Jones\nIndustrial Average (DJIA) fell 45.87 points, or 0.09%, to 51,666.84. The\npressure on Wall Street was a continuation of the technology sector\u2019s\nweakness in the previous trading session. On Monday, the Nasdaq had\nalready fallen 1.3%, mainly due to pressure on Alphabet shares. The\nsell-off then spread to global markets, particularly Asia. South Korea\u2019s\nKospi index was one of the most pressured after memory chip-related\nstocks collapsed. Shares of SK Hynix, which had previously been the\nengine of the AI euphoria-based rally in South Korea, plunged more than\n12%. This pressure caused the Kospi index to briefly fall nearly 10%.\nYet, the South Korean benchmark index had still recorded a gain of about\n95% so far this year. In Japan, the Nikkei 225 also fell 3.55%, snapping\nan eight-day winning streak. On Wall Street, the pressure on chip stocks\nwas also clearly visible. Shares of Micron Technology, traded in the US,\nfell 13%. Sandisk also corrected 13%, while Seagate Technology weakened\nmore than 5%. Other chip and semiconductor stocks were also pressured.\nIntel fell 6%, while Advanced Micro Devices (AMD) and Qualcomm weakened\nnearly 6% and 8%, respectively. The heavy pressure on the technology\nsector caused the State Street Technology Select Sector SPDR ETF (XLK)\nto fall 4%. Meanwhile, the VanEck Semiconductor ETF (SMH), which tracks\nsemiconductor stocks, fell 7%. However, the pressure on Wall Street\u2019s\nmain indices briefly eased from their lowest levels. This occurred\nbecause some technology stocks outside the chip sector, such as\nMicrosoft and Amazon, were still able to strengthen. Defensive stocks\nalso helped restrain deeper pressure. Walmart, Procter & Gamble, and\nJohnson & Johnson strengthened, while shares of International\nBusiness Machines (IBM) surged 5% after receiving a recommendation\nupgrade to overweight from JPMorgan. Shares of Sherwin-Williams and\nMerck also rose. Alphabet shares continued their weakening, falling 1%\nin Tuesday\u2019s trading. Previously, the Google parent company\u2019s stock had\nfallen 5% on Monday due to market concerns over the departure of several\nkey AI talents from the company.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/indonesia-retains-emerging-market-status-war-tensions-ease-time-for-rupiah-and-jci-to-rebound-1782258638", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }