JCI closes lower following weakness in Asian markets
The Indonesia Composite Index (JCI) on the Indonesia Stock Exchange (IDX) closed lower on Tuesday afternoon, following a decline in regional Asian stock markets.
The JCI fell by 26.16 points, or 0.43 per cent, to the 6,121.70 level. Meanwhile, the LQ45 index, comprising 45 blue-chip stocks, dropped by 3.65 points, or 0.60 per cent, to 608.16.
“After briefly touching the 6,013 level, the JCI’s decline eased, accompanied by an increase in buying volume. Consequently, the JCI is expected to undergo consolidation within the 6,050-6,200 range during Wednesday’s trading,” stated Ratna Lim, Head of Research at Phintraco Sekuritas, in her analysis in Jakarta on Tuesday.
Internationally, concerns regarding inflation driven by high energy prices, anxiety over significant corporate debt issued to fund Artificial Intelligence (AI) infrastructure, and signals of further interest rate hikes by the US Federal Reserve have triggered large-scale sell-offs in US government bonds.
Throughout this week, investors will closely monitor critical US data that could further influence the outlook for the Fed’s monetary policy. This includes the US Personal Consumption Expenditures (PCE) Price Index on Wednesday (30/9) as a key inflation indicator.
Additionally, investors are set to scrutinise US labour market data, including the publication of the Job Openings and Labour Turnover Survey (JOLTS) for August 2026 on Tuesday (29/9), and the Non-Farm Payrolls (NFP) report for September 2026 on Friday (02/10).
Domestically, the House of Representatives (DPR) officially ratified the 2027 State Budget (APBN) Bill as the 2027 State Budget on Tuesday (29/9). The 2027 budget maintains a fiscal deficit in line with the initial financial note proposal, at Rp671.16 trillion, or approximately 2.4 per cent of GDP.
Regarding state revenue, the latest agreement between the government and the DPR Budget Committee (Banggar) stands at Rp3,435.10 trillion, up from the initial proposal of Rp3,426.03 trillion. Meanwhile, state expenditure targets have been adjusted to Rp4,106.26 trillion from the original estimate of Rp4,097.19 trillion.
Opening with losses, the JCI remained in negative territory through the end of the first trading session. In the second session, the index continued to trade in the red until the market close.
According to the IDX-IC sectoral index, all eleven sectors declined, led by the technology sector which fell by 3.19 per cent, followed by the property and energy sectors, which dropped by 1.24 per cent and 1.10 per cent, respectively.
The stocks that saw the largest price gains were SEMA, IFSH, SOSS, BSWD, and ALDO. Conversely, the largest decliners were DSFI, RISE, MBTO, SAFE, and AKKU.
Trading frequency was recorded at 1.78 million transactions, with a total of 36.07 billion shares traded valued at Rp13.13 trillion. During the session, 315 stocks increased, 391 decreased, and 257 remained unchanged.
Regional Asian markets also closed lower this afternoon: the Nikkei fell 0.47 per cent to 65,571.00, the Hang Seng dropped 0.48 per cent to 24,523.53, the Kospi declined 0.27 per cent to 6,870.81, the Kuala Lumpur index fell 1.49 per cent to 1,645.18, and the Straits Times index decreased 0.23 per cent to 5,715.81.