JCI Closes Higher on Investor Bargain Hunting
Jakarta (ANTARA) - The Jakarta Composite Index (JCI) of the Indonesia Stock Exchange (BEI) closed higher on Wednesday afternoon, buoyed by bargain hunting actions (buying shares at low prices) from market participants.
The JCI closed up 28.84 points or 0.41% at 7,101.23. Meanwhile, the LQ45 index of 45 leading stocks rose 1.82 points or 0.27% to 684.14.
“The JCI strengthened modestly due to bargain hunting boosting sentiment, while significant gains in US share futures provided support ahead of the Federal Reserve’s interest rate decision to be announced today,” said Associate Director of Research and Investment at Pilarmas Investindo Sekuritas, Maximilianus Nico Demus, known as Nico, in his analysis in Jakarta on Wednesday.
Domestically, the index’s gains were held back by cautious market participants ahead of key domestic data releases at the weekend, including April 2026 inflation and March 2026 trade balance.
Internationally, Asian regional markets moved variably amid escalating tensions between the United States (US) and China, ahead of next month’s planned meeting between US President Donald Trump and Chinese President Xi Jinping.
The US has increased scrutiny of China’s relations with Iran, imposing sanctions on a major refinery and warning Chinese banks of potential secondary sanctions if they continue to facilitate Iran-related activities.
The JCI, which opened higher, remained in positive territory through the first trading session. In the second session, it stayed in the green zone towards the close of share trading.
Based on the IDX-IC Sectoral Index, nine sectors strengthened, led by the industrial sector up 2.67%, followed by the technology sector and infrastructure sector, each up 1.60% and 1.35% respectively.
Meanwhile, two sectors declined: the basic materials sector fell the most at 1.20%, followed by the health sector down 0.19%.
The shares with the largest gains were INOV, TOOL, KONI, BAPA, and ICON. The shares with the largest price declines were DEFI, LMPI, KJEN, PPRE, and LCKM.
Share trading frequency was recorded at 2,454,212 transactions, with 42.97 billion shares traded worth Rp17.24 trillion. A total of 379 shares rose, 282 fell, and 154 remained unchanged.
Asian regional stock markets this afternoon included the Nikkei index weakening 619.90 points or 1.02% to 59,917.46, the Hang Seng index strengthening 432.06 points or 1.68% to 26,111.84, the Shanghai index up 28.88 points or 0.71% to 4,107.51, while the Straits Times index fell 26.72 points or 0.55% to 4,860.97.