{
    "success": true,
    "data": {
        "id": 2046292,
        "msgid": "these-state-owned-shares-drove-the-idx-composite-up-4-1792482637",
        "date": "2026-10-20 13:34:11",
        "title": "These State-Owned Shares Drove the IDX Composite Up 4%",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Finance",
        "summary": "The Jakarta Composite Index rose 4.16% in the first session on Tuesday, with four state-owned companies accounting for about 40% of the gain. Investors remained focused on Indonesia\u2019s response to MSCI\u2019s warning about a possible downgrade from Emerging Market to Standalone Market status, as the Indonesia Stock Exchange announced changes to shareholding disclosures and index calculations.",
        "content": "<p>Jakarta, CNBC Indonesia \u2014 The Jakarta Composite Index (JCI) rose by\nmore than 4% in the first trading session on Tuesday (20 October 2026).\nIt stood at 5,204.627, up 208.018 points, or 4.16%.<\/p>\n<p>The reversal followed sharp selling pressure prompted by concerns\nover MSCI\u2019s statement about the possibility of Indonesia\u2019s stock market\nstatus being downgraded.<\/p>\n<p>According to Refinitiv data, four state-owned companies made the\nlargest contributions to the index\u2019s rise, adding about 84 points in\ntotal, or roughly 40% of the JCI\u2019s overall gain that day. PT Bank Rakyat\nIndonesia (Persero) Tbk (BBRI) was the biggest contributor, adding 30.93\npoints, with its shares at Rp2,750.<\/p>\n<p>Next were PT Bank Mandiri (Persero) Tbk (BMRI), which contributed\n23.91 points, with shares at Rp3,660, and PT Telkom Indonesia (Persero)\nTbk (TLKM), which added 22.10 points, with shares at Rp2,010. PT Bank\nNegara Indonesia (Persero) Tbk (BBNI) contributed 7.23 points, with\nshares at Rp3,180.<\/p>\n<p>Gains in state-owned bank shares were in line with sector\nperformance. The financial sector rose 5.19%, while utilities was the\nstrongest performer, gaining 6.69%. Energy rose 1.75% and technology\n1.17%.<\/p>\n<p>The rise was broad-based, with 633 shares advancing, 124 declining\nand 161 unchanged. Total trading volume reached around 38.68 billion\nshares.<\/p>\n<p>Market participants are expected to keep an eye on steps by the\nIndonesia Stock Exchange (IDX), the government and Danantara in response\nto MSCI\u2019s announcement, as well as share buy-backs by several\nconglomerate-listed companies and President Prabowo Subianto\u2019s call for\nstronger enforcement of capital-market rules.<\/p>\n<p>In response to MSCI\u2019s announcement last week, which raised the\npossibility of Indonesia\u2019s stock market being downgraded from Emerging\nMarket to Standalone Market status, the IDX announced two new\ninitiatives on Monday (19 October 2026). First, disclosures of\nshareholdings above 1% will include information on any affiliations\nbetween shareholders and the company. Second, all shares on the High\nShareholding Concentration (HSC) list will be excluded from the JCI\ncalculation; the effective date will be announced in due course.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/these-state-owned-shares-drove-the-idx-composite-up-4-1792482637",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}