Dollar Hits Rp 17,900 as JCI Plummets 3.03%
The Indonesia Composite Index (JCI) plummeted 3.03% to the level of 6,008.69 in this morning’s trading, Wednesday (3/6/2026). A total of 633 stocks weakened, 93 stocks strengthened, and 233 stocks remained stagnant. Transaction frequency reached 1.075 million times, with a trading volume of 12.77 billion shares valued at Rp 8.80 trillion.
At the start of trading, the JCI surged 11.67 points or 0.19% to a position of 6,207. Transaction value at the opening was recorded at Rp 256 billion with a volume of 241 million shares and a frequency of 33,000 transactions. During this period, 229 stocks were recorded as strengthening, 74 weakening, and 309 remaining stagnant. However, a few minutes after the market became active, the JCI reversed direction and dropped sharply, correcting by 0.92% to the 6,136 level. Conglomerate stocks remained the most actively traded today.
Various domestic and international sentiments are weighing on the JCI and the Rupiah. After both strengthened during Tuesday’s trading, the Indonesian financial market is being tested again today. Data from the S&P Global Purchasing Managers’ Index (PMI) released on Tuesday (2/6/2026) showed Indonesia’s PMI stood at 50.0 in May 2026. This figure represents an improvement after the PMI recorded a contraction in April 2026 (49.1). This increase was driven by improving domestic demand, with new orders growing for the second consecutive month at the fastest pace since February.
However, export market performance remains a weak point. Overseas orders have declined for the third consecutive month, marking the deepest decline since August 2021, due to ongoing trade disruptions caused by conflicts in the Middle East. The Central Bureau of Statistics (BPS) also announced that Indonesia’s trade balance in April 2026 recorded a surplus of US$ 90 million. This surplus shrank compared to the March 2026 record of US$ 3.32 billion. This surplus was driven by an export value of US$ 25.30 billion against an import value of US$ 25.21 billion, marking the 72nd consecutive month of surplus since May 2020.
Furthermore, BPS reported inflation in May 2026 at 0.28% month-to-month (mtm). Calendar year inflation reached 1.35%, while annual inflation stood at 3.08%. The inflationary pressure recorded in the Consumer Price Index (CPI) for that month was higher than the April 2026 condition, which saw inflation of 0.13% mtm.
Another key sentiment involves the volume of approved but undisbursed bank financing (undisbursed loans) to the business sector, which reached Rp 2,527 trillion as of March 2026. This condition serves as a signal that some business players are still withholding their expansions. This morning, the Rupiah exchange rate continued to weaken, with the Rupiah against the US Dollar touching the Rp 17,900 mark.