Jakarta, CNBC Indonesia \u2014 The Jakarta Composite Index (JCI) came\nunder sustained pressure in trading on Friday (16 October 2026). By\n9.30am WIB, the benchmark index of the Indonesia Stock Exchange stood at\n5,203.19, down 660.59 points, or 11.27%.<\/p>\n
The JCI had opened at 5,393.92 at 9am, down 8.01%. Selling pressure\nintensified over the next half-hour, taking the index to its session low\nof 5,193.22. Its high was 5,404.51, just above the opening level.<\/p>\n
Trading volume totalled 61.6 million lots, with transactions valued\nat Rp1,730.3 billion.<\/p>\n
The index\u2019s decline was led by the infrastructure sector, which fell\nmore than 13.9%, followed by energy, down 11%, and basic materials,\nwhich dropped 8.7%.<\/p>\n
Among the stocks weighing on the JCI were PT Barito Renewables Energy\nTbk (BREN), PT Dian Swastatika Sentosa Tbk (DSSA), PT Bank Central Asia\nTbk (BBCA), PT Chandra Asri Pacific Tbk (TPIA) and PT VKTR Teknologi\nMobilitas Tbk (VKTR).<\/p>\n
Stocks that helped cushion the decline included PT Amman Mineral\nInternasional Tbk (AMMN), PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank\nRakyat Indonesia (Persero) Tbk (BBRI), PT United Tractors Tbk (UNTR) and\nPT Bank of India Indonesia Tbk (BSWD).<\/p>\n
The rupiah was also under renewed pressure in the final trading\nsession of the week, opening weaker against the US dollar on Friday (16\nOctober 2026).<\/p>\n
Refinitiv data showed the rupiah opened down 0.33% at Rp17,980 per US\ndollar. Just two minutes later, at 9.02am WIB, its decline had deepened\nto 0.45%, taking it to Rp18,000 per US dollar.<\/p>\n
The move extended Thursday\u2019s losses. On 15 October, the rupiah closed\ndown 0.14% at Rp17,920 per US dollar, after earlier falling as far as\nRp17,957.<\/p>\n
Market sentiment was also affected by MSCI\u2019s plan to change\nIndonesia\u2019s equity-market classification from emerging market to\nstandalone market.<\/p>\n
The proposal remains under consultation and is not yet final. MSCI is\ninviting market participants to submit feedback until 30 April 2027,\nwith a final decision due no later than 30 June 2027.<\/p>\n
\u201cMSCI will announce its final decision at the end of June 2027 and\nmay provide interim updates on market participants\u2019 feedback during the\nconsultation period,\u201d MSCI said in its announcement, quoted on Friday\n(16 October 2026).<\/p>\n
MSCI said Indonesia\u2019s emerging-market classification no longer\nreflected current market conditions. Its assessment was based on\nconcerns about investability, transparency of share ownership\nstructures, alleged coordinated trading practices and the apparent lack\nof meaningful impact from regulatory enforcement.<\/p>\n
During the consultation, MSCI will also continue to freeze certain\nindex changes for Indonesian shares. It will not increase the Foreign\nInclusion Factor (FIF) or Number of Shares (NOS), add new stocks to the\nMSCI Indonesia Investable Market Index, or move stocks into higher index\nsegments.<\/p>\n
The news could make foreign investors more cautious about domestic\nassets. If it prompts foreign funds to leave the equity market, demand\nfor US dollars could rise and put further pressure on the rupiah.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/jci-plunges-11-as-rupiah-hits-rp18-000-heres-why-1792122634", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }