IDX Remains Volatile, These Stocks Are Worth Watching

The Indonesia Stock Exchange (IDX) closed down 0.12% to the level of 6,678.20 in trading on Wednesday (9/9/2026).

A number of stocks were the primary drivers of the trade, including AMMN, which rose 5.14%, IMPC, which strengthened by 9.51%, and AADI, which increased by 5.96%. Conversely, BBCA fell 2.25%, BMRI weakened by 0.90%, and ASII corrected by 1.62%.

Foreign investors recorded a net sell of Rp621.40 billion in the regular market, while the overall market recorded a net sell of Rp438.52 billion.

Of the 11 traded sectors, six ended in the red zone. The Healthcare sector recorded the deepest decline of 1.33%, while the Transportation & Logistics sector was the strongest performer, gaining 2.41%.

Movement in the US markets was also in the negative zone. The Dow Jones fell 0.77% to the level of 52,380, the S&P 500 weakened by 0.48% to 7,636, and the Nasdaq corrected by 0.64% to 26,253.

The 1.33% decline in the Healthcare sector was linked to profit-taking after the catalyst of the Anak Krakatau eruption began to lose momentum. Meanwhile, the EIDO ETF fell 0.68% and the MSCI Indonesia index corrected by 0.99%.

Regarding corporate actions, Surya Semesta Internusa (SSIA) is preparing capital expenditure (capex) of Rp2.20 trillion for 2026. Most of these funds will be directed towards supporting the development of the Subang Smartpolitan area.

From the total capex, approximately Rp1.50 trillion is allocated for land acquisition and development needs. SSIA is also preparing around Rp330 billion for the rebranding of Paradisus by Meliá Bali. As of the first semester of 2026, the realisation for this project has reached approximately Rp200 billion.

In terms of performance, SSIA has revised its 2026 revenue target to Rp7.20 trillion from the previous Rp7.50 trillion. This adjustment was made due to delays in sales and shifts in contracts involving PT Nusa Raya Cipta Tbk (NRCA).

Despite the revenue target adjustment, SSIA maintains its net profit target of Rp400 billion by the end of 202<0xA0>26. This target represents a year-on-year growth of up to 570%.

Furthermore, Jasa Marga (JSMR) is allocating capex of approximately Rp12.00 trillion for 2026. As of the first semester of 2026, the company has realised approximately Rp4.40 trillion of that budget.

The funds are being used to accelerate the construction and operation of five toll road projects, namely Jakarta-Cikampek II South (Setu–Sadang section), Patimban Access, Jogja-Bawen, Jogja-Solo, and Probolinggo-Banyuwangi.

For the Jogja-Bawen Toll project, Section 6 Ambarawa–Bawen, spanning 4.98 kilometres, is targeted to begin operations in November 2026. Meanwhile, Section 1 Yogyakarta–SS Banyurejo is targeted for construction completion by the end of September 2026.

For the 14-kilometre Patimban Access Toll, JSMR targets the route to be operational by 2028. The Probolinggo-Banyuwangi Toll project has a total length of 49.68 kilometres. The Paiton–Besuki section is currently in the Functional Operation Feasibility Test (ULFO) stage and is targeted to begin operations in late 2026 or early 2027.

Overall, JSMR targets an additional 62 kilometres of toll road sections to begin operations between late 2026 and early 2027.

Additionally, Bank Kasikorn Indonesia (BMAS) plans to carry out a capital increase through a rights issue (HMETD) via PMHMETD IV. The company has set a ratio of 655:104, with a maximum of 2.87 billion new shares, equivalent to 13.70% of the fully paid-up placed capital after the corporate action.

The exercise price is set at Rp350 per share. Consequently, BMAS has the potential to raise approximately Rp1.01 trillion, all of which will be used as working capital to support increased credit distribution.

The major shareholder, Kasikorn Vision Financial Company Pte. Ltd. (KVF), which currently holds 86.03% of BMAS shares, stated it will exercise all rights entitled to it, including rights transferred from Kasikornbank (KBANK).

KVF will also act as the standby buyer in this action. With the implementation of the rights issue, KVF’s ownership could potentially increase to between 86.37% and 87.81%. Meanwhile, existing shareholders who do not exercise their rights could face a maximum dilution of 13.70%.

The trading and implementation period for the rights issue is scheduled from 27 November to 3 December 2026. The cum-right date in the regular and negotiated markets is set for 23 November 2026.