Jakarta, CNBC Indonesia \u2013 The Composite Stock Price Index (JCI) ended\nThursday\u2019s (29 October 2026) trading in negative territory. It closed at\n5,098.06, down 184.26 points, or 3.49%.<\/p>\n
The index had opened slightly higher at 5,305.20 and briefly reached\naround 5,320 early in the session. The gains were short-lived, however.\nSelling pressure emerged in the morning and sent the JCI sharply lower\nbefore 10am Western Indonesia Time (WIB).<\/p>\n
From midday through the afternoon, the index traded in the\n5,125\u20135,175 range as pressure continued. It briefly rebounded to around\n5,120 towards the end of the session, but fell again in the final\nminutes to close near its low for the day.<\/p>\n
Trading volume reached 217.69 million lots, with a transaction value\nof Rp10.13 trillion. The sectors weighing on the JCI included utilities,\ndown 5.99%; education services, down 4.60%; and basic materials, down\n4.02%.<\/p>\n
The shares weighing most heavily on the index were PT Bank Central\nAsia Tbk (BBCA), PT Astra International Tbk (ASII), PT Bank Rakyat\nIndonesia (Persero) Tbk (BBRI), PT Telkom Indonesia (Persero) Tbk\n(TLKM), and PT Bank Mandiri (Persero) Tbk (BMRI).<\/p>\n
Among the shares that helped limit the decline were PT Dian\nSwastatika Sentosa Tbk (DSSA), PT Chandra Asri Pacific Tbk (TPIA), PT\nCisarua Mountain Dairy Tbk (CMRY), PT Temas Tbk (TMAS), and PT Bank Ina\nPerdana Tbk (BINA).<\/p>\n
Earlier, pressure on Indonesia\u2019s financial markets was expected to\nease after the Federal Reserve held interest rates. However, the release\nof US PCE inflation data and developments in the war could weigh on\nshares and the rupiah. A rise in yields on Indonesian government bonds\n(SBN) was also in focus.<\/p>\n
The day\u2019s key market factors included:<\/p>\n
The Federal Reserve (Fed) kept its benchmark interest rate at\n3.75%\u20134.00%, although Thursday\u2019s (29 October 2026) decision was not\nunanimous. Two officials, Lisa Cook and Beth Hammack, supported a\n25-basis-point increase.<\/p>\n
The Fed said inflation remained high and left open the possibility of\nfurther rate adjustments. Fed Chair Kevin Warsh declined to signal the\nlikely direction of the next policy move, stressing that the central\nbank was still working to bring inflation back to its 2% target.<\/p>\n
Warsh also said the US economy was gaining strength, with first-half\n2026 growth revised up to 2.4%. However, high interest rates continue to\nraise borrowing costs and affect investment, including construction of\nartificial intelligence (AI) infrastructure.<\/p>\n
Markets put the probability of a rate increase in December at about\n80%. The yield on the 10-year US Treasury rose to 5.042% after the\ndecision was announced.<\/p>\n
The US was due to release September Personal Consumption Expenditures\n(PCE) inflation data on Thursday (29 October) at 7.30pm WIB.<\/p>\n
In August 2026, PCE inflation stood at 3.4% year on year, while core\ninflation was 3.0% year on year.<\/p>\n
Core PCE inflation, which excludes food and energy, was expected to\nrise by 0.3% month on month in September 2026, up from 0.2% in August.\nThe annual rate was forecast to increase to 3.1% from 3.0%.<\/p>\n
The data are important because PCE is one of the key inflation\nindicators the Fed uses to guide monetary policy.<\/p>\n
The US was also due to announce unemployment claims data for the week\nended 24 October 2026.<\/p>\n
Initial US jobless claims fell by 6,000 to 194,000 in the week ended\n17 October 2026, their lowest level since mid-July and below the market\nexpectation of 200,000, according to the US Department of Labour.<\/p>\n
The decline indicated that the labour market remained solid amid\neconomic uncertainty. Strong corporate profits and resilient domestic\ndemand helped contain a wave of redundancies.<\/p>\n
However, high energy costs amid the US-Israel war with Iran,\nuncertainty over Federal Reserve (Fed) interest rates and trade policy\nwere weighing on companies\u2019 hiring decisions.<\/p>\n
The European Central Bank (ECB) was due to announce its decision at\n8.15pm WIB, followed by a press conference at 8.45pm. The consensus\nforecast was for the main refinancing rate to remain at 2.65% and the\ndeposit facility rate at 2.50%.<\/p>\n
Attention was focused on the ECB\u2019s response to inflation risks\nalongside slowing growth. Any decision to hold rates needed to be\nconsidered alongside the accompanying guidance, particularly on the\npossibility of further tightening and the assessment of energy-cost\npressures.<\/p>\n
For global markets, a change in the ECB\u2019s tone could affect the euro,\nEuropean bonds and the dollar\u2019s relative performance. As the\nannouncement was scheduled close to major US data releases, investors\nneeded to consider the two developments together rather than in\nisolation.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/jci-closes-down-3-49-at-5-098-1793267512", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }