JCI Closes Higher by 15.15 Points at 6,971.95 on Monday Afternoon
Jakarta (ANTARA) - The Composite Stock Price Index (JCI) of the Indonesia Stock Exchange (BEI) closed higher on Monday afternoon, gaining 15.15 points or 0.22% to reach 6,971.95.
The JCI opened stronger, touching 7,069. However, in the second session, the gains moderated, and the index tended to move sideways.
Ratna Lim, Head of Research at Phintraco Sekuritas, in Jakarta on Monday, stated that the JCI’s weakening was triggered, among other factors, by a correction in GOTO shares after the government, through Presidential Regulation No. 27 of 2026, limited applicator deductions to a maximum of 8%.
“This has sparked investor anxiety over the fundamental prospects of GOTO shares, as the policy is deemed capable of reducing GOTO’s revenue and margins,” she said.
Meanwhile, Phillip Sekuritas Indonesia in its analysis noted that Asian stock indices closed higher on Monday afternoon (4/5).
The MSCI Asia-Pacific ex-Japan index rose up to 3%, driven by a 5.12% gain in the KOSPI and 4.57% in the TAIEX. Stock markets on mainland China and Japan were closed for holidays.
This strengthening was supported, among other things, by a rally in artificial intelligence (AI)-related shares, which helped the MSCI Asia-Pacific ex-Japan index erase a 13.5% decline in March due to the US-Iran conflict.
The AI theme has returned to market attention following the US-Iran ceasefire agreement, which has eased investor concerns. Asia is seen as a key pillar in AI development, supported by dominance in semiconductor manufacturing and growing data infrastructure needs.
Several major AI hardware providers include Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics, and SK Hynix.
In the commodities market, crude oil futures prices dipped slightly after US President Donald Trump announced the Project Freedom initiative to assist ships exiting the Strait of Hormuz.
The US military stated that the initiative would involve guided-missile destroyers, more than 100 aircraft, and 15,000 military personnel. However, the US Department of Defense (Pentagon) has not provided further details on its implementation.
The direction of oil prices remains a major uncertainty for the global economy amid the Iran conflict. Last week, crude oil prices surged around 8% due to fears of disruptions in distribution through the Strait of Hormuz.
Asian manufacturing activity indicators also show supply chain disruptions due to the Middle East conflict.
“Data from the S&P Global Manufacturing Purchasing Managers’ Index (PMI) indicates that although production increased last month in major countries, it was partly driven by concerns over shortages of energy materials and higher energy material prices due to the Middle East conflict hindering trade flows,” wrote Phillip Sekuritas Indonesia in its analysis.
Since the conflict began in late February, energy and other commodity prices have risen, pressuring production costs and market sentiment in Asia, which relies on supplies from the Middle East.
From Monday’s JCI closing, share transaction frequency was recorded at 2,441,740 times, with trading volume reaching 60.30 billion shares worth Rp21.12 trillion. A total of 327 shares rose, 357 fell, and 134 were unchanged.
Sector-wise, the highest gains were in the primary consumer goods sector at 2.53%, followed by non-primary consumer goods at 1.53%, infrastructure at 0.96%, and industrials at 0.03%.
Conversely, the healthcare sector fell 1.63%, technology 1.56%, transportation 1.52%, energy 1.20%, basic materials 0.69%, financials 0.16%, and property 0.01%.