JCI Closes 1.88% Lower Amid Heavy Foreign Sell-Off

The Jakarta Composite Index (JCI) plummeted 1.88% to 6,196.43 on Friday, as heavy selling hit big-cap stocks amid deteriorating global sentiment. A total of 587 stocks declined, while only 104 advanced and 105 remained unchanged. Transaction value reached Rp17.71 trillion, with 37.84 billion shares changing hands across 2.25 million trades, reflecting intense selling pressure from the opening bell. The decline was led by blue-chip stocks, particularly in the banking sector, which had already been targeted by foreign investors the previous day. All sectors ended in negative territory, with shares of BMRI, AMMN, BREN, BRPT, BRMS, and BUMI acting as the main drags on the index. According to Stockbit Sekuritas data, foreign investors recorded a net sell of Rp759.46 billion across all markets during the first session. Total foreign transaction value reached Rp6.54 trillion, comprising Rp2.89 trillion in purchases and Rp3.65 trillion in sales. The largest foreign outflow hit state-owned lender PT Bank Mandiri (Persero) Tbk. (BMRI) at Rp386.06 billion, followed by PT Bumi Resources Tbk. (BUMI) at Rp142.89 billion and PT Petrindo Jaya Kreasi Tbk. (CUAN) at Rp123.37 billion. Other stocks experiencing significant foreign selling included PT Chandra Asri Pacific Tbk. (TPIA), PT Petrosea Tbk. (PTRO), PT Amman Mineral Internasional Tbk. (AMMN), PT Darma Henwa Tbk. (DEWA), PT Timah Tbk. (TINS), PT Energi Mega Persada Tbk. (ENRG), and PT Dian Swastatika Sentosa Tbk. (DSSA). The sell-off was exacerbated by worsening global sentiment after US President Donald Trump imposed new tariffs of 10% to 12.5% on 60 trading partners, including Indonesia, stoking fears over global trade prospects. Simultaneously, escalating conflict in the Middle East pushed Brent crude oil prices above US$100 per barrel, raising concerns that persistent inflationary pressures could force central banks to maintain higher interest rates for longer. The combination of external headwinds and sustained selling in banking shares prompted market participants to reduce exposure to risky assets, deepening the JCI’s decline.