Did the Rp1 Share Price Rule Put Pressure on the JCI? IDX Responds
Did the Rp1 Share Price Rule Put Pressure on the JCI? IDX Responds
Reporter
September 28, 2026 | 10:53 pm
TEMPO.CO, Jakarta - Indonesia Stock Exchange (IDX) President Director Jeffrey Hendrik denied that the removal of the minimum share price had put pressure on the Jakarta Composite Index (JCI).
The removal of the minimum share price from Rp50 to Rp1 took effect in the regular and cash markets on Monday, September 28, 2026.
Jeffrey said trading, from the pre-opening session through the market opening, proceeded smoothly on Monday. He also noted that stocks that had long traded at Rp50 accounted for only a small portion of the JCI’s weighting.
“The second point is that the weighting of stocks that have long been priced at Rp50 in the JCI is also not significant,” he told reporters at the IDX building in Jakarta on Monday.
Therefore, Jeffrey said, the pressure on the JCI could not be attributed solely to the introduction of the Rp1 minimum share price.
The JCI opened at 6,209 on Monday and fell 1.51 percent to 6,147 by the close of trading.
Jeffrey acknowledged, however, that the new rule could trigger short-term volatility, as some stocks previously stuck at Rp50 had gone untraded for years.
He said it would take time for these stocks to establish new prices that better reflected their fair value.
“It will certainly take time because there is an auto-rejection process before they eventually find their fair value,” he said.
Pilarmas Investindo Sekuritas said the JCI’s decline on Monday was in line with broader Asian markets, which were mostly lower after U.S. President Donald Trump rejected Iran’s conditional offer to reopen the Strait of Hormuz.
Another global factor was the Bank of Japan’s agreement to continue gradually raising its policy interest rate, according to the brokerage.
Domestically, Pilarmas identified the removal of the minimum share price as one of the factors affecting market sentiment.
“Concerns also remain over high oil prices and their potential impact on fiscal conditions, while investors are tending to remain cautious ahead of the release of trade and inflation data,” Pilarmas Investindo Sekuritas’ research team said in its Monday, September 28, 2026, report.
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