JCI Closes Lower Amid 'Wait and See' Approach Ahead of Fed Meeting
The Indonesia Composite Index (IHSG) on the Indonesia Stock Exchange (IDX) closed weaker on Wednesday afternoon as market participants maintained a ‘wait and see’ approach regarding the results of the US Federal Reserve meeting.
The IHSG declined by 24.30 points, or 0.38 per cent, to 6,436.85. Meanwhile, the LQ45 index, comprising 45 blue-chip stocks, dropped by 3.80 points, or 0.58 per cent, to 646.96.
“The IHSG moved mixed while awaiting the Fed’s monetary policy,” said Ratna Lim, Head of Research at Phintraco Sekuritas, in her analysis in Jakarta on Wednesday.
Internationally, Ratna noted that Asian markets moved variably with an upward trend, following a correction in global crude oil prices after US crude oil inventories unexpectedly rose by 7.14 million barrels last week. Meanwhile, global bond yields also tended to remain stable ahead of the Fed’s policy decision.
According to CME FedWatch, the probability of a 25 basis point (bps) interest rate hike by the Fed increased to 92 per cent for the 15-16 September 2026 meeting.
Domestically, market participants are awaiting the implementation of the minimum price limit for shares traded in the regular and cash markets, which will change from the current Rp50 per share to Rp1 per share on 28 September 2026. Additionally, investors are looking forward to the effective implementation of short-selling transactions in October 2026, with the Short Selling Securities List scheduled for release on 28 September 2026.
After opening lower, the IHSG moved into positive territory until the close of the first trading session. However, in the second session, the index returned to the red zone until the close of trading.
Based on the IDX-IC Sectoral Index, two sectors strengthened, led by the industrial sector which rose by 1.19 per cent, followed by the consumer staples sector which rose by 0.10 per cent. Conversely, nine sectors weakened, with the technology sector experiencing the deepest decline at 1.20 per cent, followed by the infrastructure and consumer non-staples sectors, which fell by 1.18 per cent and 1.01 per cent, respectively.
The stocks that saw the largest price increases were MGNA, UANG, VISI, VAST, and YULE, while the largest decliners were INTD, SAPX, DEFI, BKDP, and FILM.
Trading frequency was recorded at 1,840,000 transactions, with a total of 23.77 billion shares traded valued at Rp12.24 trillion. A total of 213 stocks increased, 456 stocks decreased, and 293 stocks remained unchanged.
Regional Asian stock indices this afternoon included the Nikkei, which rose 0.78 per cent to 63,982.00; the Shanghai index, which rose 0.71 per cent to 3,891.60; the Hang Seng, which rose 0.19 per cent to 24,713.78; the Kospi, which rose 1.37 per cent to 6,717.97; and the Straits Times index, which fell 0.06 per cent to 5,635.41.