The Jakarta Composite Index (JCI) has recorded massive selling\npressure since the close of trading on 29 May 2026. The benchmark index\nfor the Indonesian capital market, which previously stood at 6,127.38,\nhas now plunged sharply to 5,681.54 today, weakening by 2.71% as of\n10:27 WIB. This significant decline is directly influenced by the index\nrebalancing effect, which triggered large-scale portfolio reallocation,\nprompting sell-offs by various foreign and domestic institutional\ninvestors. Furthermore, the relentless weakening of the Rupiah has\nplaced psychological pressure on both domestic and foreign investors, as\nthe Rupiah against the US dollar had just reached Rp17,000\/US$ on 1\nApril 2026 but has now depreciated further to Rp18,000\/US$ as of 4 June\n2026. Ultimately, this sentiment has heavily burdened the overall index\nmovement amid the currently high macroeconomic uncertainty.<\/p>\n
Amid this aggressive market correction phase, shares affiliated with\nlarge conglomerate groups are among those recording the deepest\ndeclines. Based on cumulative price movement data since the rebalancing\nup to 5 June 2026, a number of listed companies have experienced a very\nsignificant shrinkage in market capitalisation. PT Bakrie & Brothers\nTbk (BNBR) leads the list of declines with a price correction reaching\n-27.91%. This position is closely followed by PT Raharja Energi Cepu Tbk\n(RATU), which plummeted by -21.89%, and PT Bakrieland Development Tbk\n(ELTY), with a weakening level of -21.88%. Selling pressure also hit\nother giant-scale issuers. PT Pantai Indah Kapuk Dua Tbk (PANI) and PT\nBarito Pacific Tbk (BRPT) experienced value depreciation of -21.02% and\n-17.53%, respectively. This simultaneous decline reflects market\nparticipants\u2019 tendency to avoid high-volatility assets.<\/p>\n
Although the data shows a sharp correction in the ranks of these\nconglomerate-backed listed companies, this condition is not absolute for\nall business entities affiliated with large groups. There are exceptions\nwhere several other conglomerate issuers managed to book positive\nperformance or at least hold on in the green zone. This is generally\nsupported by solid corporate fundamental resilience, strategic corporate\nactions, or specific sectoral catalysts for each respective issuer. This\nfact confirms that the rebalancing does not always have a wholly\ndestructive impact, but rather creates a sectoral rotation. This\nrotation requires market participants to readjust their risk profiles\namid the ever-changing market dynamics.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/jci-in-critical-condition-which-conglomerate-stocks-are-most-battered-1780638716", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }