JCI and Rupiah Close Lower Amid Inflation Fears and Global Uncertainty

The Jakarta Composite Index (JCI) closed down 0.98% at 6,116.69 on Monday, 22 June 2026. A total of 221 stocks advanced, 445 declined, and 147 remained unchanged. Trading volume reached 22.95 billion shares with a transaction value of Rp13.48 trillion, across 1.73 million trades.

Phintraco Sekuritas research team assessed that the JCI’s movement was influenced by investors adopting a wait-and-see stance ahead of the Annual Market Classification Review by Morgan Stanley Capital International on 24 June 2026. “Additionally, several issues regarding the Financial Sector Development and Strengthening Law (P2SK) are creating uncertainty in the market,” they stated in a note on Monday.

The rupiah also weakened by 0.22% to Rp17,843 per US dollar in the afternoon session. According to Phintraco Sekuritas, this development was in line with the majority of Asian currencies.

Meanwhile, PT Traze Andalan Futures Director Ibrahim Assuaibi said the currency’s movement was influenced by Bank Indonesia’s prediction of rising inflation due to adjustments in non-subsidised fuel prices. BI also predicted that the El Niño phenomenon could increase inflationary risks.

From a global perspective, Ibrahim noted that the strengthening of the US dollar index was driven by market sentiment shaken after US President Donald Trump warned Iran of potential additional military action unless Iran took steps to control Hezbollah forces operating in Lebanon. “However, US-Iran talks concluded in Switzerland, with Tehran stating it had secured exemptions for oil and petrochemical exports, easing concerns about supply shortages in the global market,” Ibrahim said in a written statement on Monday.