Jakarta Composite Index Closes Lower Led by Technology Sector
Jakarta (ANTARA) - The Jakarta Composite Index (JCI) on the Indonesia Stock Exchange (IDX) closed lower on Thursday afternoon, led down by technology sector shares.
The JCI closed 36.15 points or 0.44 per cent weaker at 8,274.08. Meanwhile, the LQ45 blue-chip index fell 4.524 points or 0.51 per cent to 834.28.
"The JCI closed lower amid continued Rupiah weakness," said Phintraco Sekuritas Head of Research Ratna Lim in her analysis in Jakarta on Thursday.
On the domestic front, Bank Indonesia's Board of Governors Meeting maintained the BI-Rate at 4.75 per cent for the fifth consecutive time, in line with efforts to stabilise the weakening Rupiah, keep inflation within the 1.5-3.5 per cent target range, and support economic growth.
Ratna said the Rupiah tended to weaken amid investor concerns over Indonesia's fiscal position, as well as potential equity and credit rating downgrades by MSCI and Moody's.
On the other hand, Indonesia's inflation for January 2026 reached its highest level since May 2023 at 3.55 per cent year-on-year, whilst credit growth reached 9.96 per cent year-on-year.
Market participants will next be watching for fourth-quarter 2025 current account data, which is expected to record a surplus of US$2.0 billion, down from a US$4.0 billion surplus in the third quarter of 2025.
Meanwhile, Indonesia and the United States are scheduled to sign a trade agreement under a negotiation framework agreed upon last year. The framework includes provisions that Indonesian export goods entering the US will be subject to a 19 per cent tariff, US export goods entering Indonesia will not be subject to tariffs, and Indonesia will relax local content requirements (TKDN) for US products.
The JCI closed 36.15 points or 0.44 per cent weaker at 8,274.08. Meanwhile, the LQ45 blue-chip index fell 4.524 points or 0.51 per cent to 834.28.
"The JCI closed lower amid continued Rupiah weakness," said Phintraco Sekuritas Head of Research Ratna Lim in her analysis in Jakarta on Thursday.
On the domestic front, Bank Indonesia's Board of Governors Meeting maintained the BI-Rate at 4.75 per cent for the fifth consecutive time, in line with efforts to stabilise the weakening Rupiah, keep inflation within the 1.5-3.5 per cent target range, and support economic growth.
Ratna said the Rupiah tended to weaken amid investor concerns over Indonesia's fiscal position, as well as potential equity and credit rating downgrades by MSCI and Moody's.
On the other hand, Indonesia's inflation for January 2026 reached its highest level since May 2023 at 3.55 per cent year-on-year, whilst credit growth reached 9.96 per cent year-on-year.
Market participants will next be watching for fourth-quarter 2025 current account data, which is expected to record a surplus of US$2.0 billion, down from a US$4.0 billion surplus in the third quarter of 2025.
Meanwhile, Indonesia and the United States are scheduled to sign a trade agreement under a negotiation framework agreed upon last year. The framework includes provisions that Indonesian export goods entering the US will be subject to a 19 per cent tariff, US export goods entering Indonesia will not be subject to tariffs, and Indonesia will relax local content requirements (TKDN) for US products.