The Indonesia Composite Index (JCI) remained in the green during the\nfirst trading session this Wednesday (23\/9\/2023). According to IDX\nMobile data, the JCI rose by 40.42 points or 0.64% at the market opening\nto the level of 6,317.46.<\/p>\n
At the start of trading, the index opened at 6,446.90 and briefly\nstrengthened to a daily high of 6,451.33. However, selling pressure\nsubsequently caused the JCI to weaken, touching a low of 6,381.57.<\/p>\n
In intraday movements, the JCI fluctuated around the 6,420 level\nafter facing pressure early in the session. The index then regained\nstrength, approaching the 6,430 level, but this momentum failed to\npersist until the end of the session. Towards the close, the JCI faced\nrenewed pressure and moved downwards towards the 6,380 level.<\/p>\n
Today\u2019s JCI gains were driven by the consumer staples sector, which\nrose by 3.5%, followed by basic materials up 1.7%, and the energy sector\nup 1.1%.<\/p>\n
A total of 416 stocks strengthened, 224 stocks weakened, and 323\nstocks remained stagnant. Transaction value reached approximately Rp\n6.04 trillion, with a trading volume of 17.92 billion shares and a\nturnover of 1.10 million trades.<\/p>\n
Quoting Stockbit data, the regular market dominated transaction\nactivity. In the regular market, the trading volume was recorded at\n239.41 million lots, with a transaction value of Rp 10.21 trillion and a\nfrequency of around 1.82 million transactions.<\/p>\n
Meanwhile, transactions through the negotiated market were recorded\nat 28.54 million lots, with a transaction value of Rp 1.58 trillion and\na frequency of 448 transactions. Transactions in the cash market were\nrelatively small, totaling only 2 lots with a value of Rp 25.20 thousand\nfrom 2 transactions.<\/p>\n
The Indonesian financial market on Wednesday (23\/9\/2026) will closely\nwatch Bank Indonesia\u2019s (BI) interest rate decision and developments in\nthe Middle East war. Bank Indonesia will announce its benchmark interest\nrate decision on Wednesday, following a two-day Board of Governors\nMeeting (RDG). This announcement marks the first for Destry Damayanti\nsince being inaugurated as the definitive Governor of BI on 2\nSeptember.<\/p>\n
The RDG is being held amidst global uncertainty and surging\ninflation, which has ushered in a return to a high-interest-rate era. At\nleast nine central banks have already raised interest rates, including\nthe Fed and the Bank of Japan (BoJ).<\/p>\n
A CNBC Indonesia poll of 11 institutions and agencies showed that\neight respondents expect the BI Rate to remain at 5.75%. Three other\nrespondents projected an increase of 25 basis points (bps) to 6.00%. The\ndeposit facility and lending facility rates are expected to remain\nunchanged at 4.75% and 6.5%, respectively.<\/p>\n
If BI maintains the rate, it will be the third consecutive decision\nto hold, following holds in July and August. Previously, BI had\ncumulatively raised interest rates by 100 bps throughout May-June 2026,\nfrom 4.75% to 5.75%.<\/p>\n
Inflation remains within BI\u2019s target of 1.5%-3.5%. The Central Bureau\nof Statistics (BPS) recorded August inflation at 3.19% year-on-year, up\nfrom 2.88% in July.<\/p>\n
On the other hand, the rupiah closed weaker at Rp17,850\/US$ on\nTuesday (22\/9\/2026), while the US central bank, the Federal Reserve,\nraised its interest rate by 25 bps last week.<\/p>\n
In the August RDG, Destry, who was then serving as the Acting\nGovernor of BI, stated that the decision to hold rates was in line with\nefforts to maintain rupiah stability amidst global volatility caused by\nthe war in the Middle East. BI is also considering an inflation target\nof 2.5\u00b11% for 2026 and 2027, as well as economic growth.<\/p>\n
In addition to interest rates, BI previously stated it would expand\nincentive policies to encourage foreign capital inflows and maintain\nrupiah stability. Loose macroprudential policies are also directed\ntowards supporting credit and financing for the real sector.<\/p>\n
Meanwhile, oil prices have fallen for five consecutive days. On\nTuesday (22\/9\/2026), Brent crude prices fell below US$ 100 for the first\ntime since 8 September 2029. Brent fell 1.09% to US$ 99.25 per barrel,\nwhile WTI slumped to US$ 94.5 per barrel, a 1.3% decrease.<\/p>\n
Over the last five days, oil prices have dropped by 8.7%, while WTI\nhas plummeted by 10.6%. The weakening oil prices have not been able to\ncurb the strength of the US dollar. The US Dollar Index actually\nstrengthened to 100.601 on Tuesday, from 100.429 on Monday.<\/p>\n
US Treasury yields also rose to 4.967% from 4.963%. The rise in US\nTreasury yields and the dollar index serves as bad news for the rupiah,\nas these conditions could trigger capital outflows and pressure the\ncurrency.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/jci-rises-0-64-to-6-317-46-1790142890", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }