JCI Drops 16.91%, OJK Highlights Market Volatility in Early 2026

The Financial Services Authority (OJK) has stated that the Indonesian capital market has undergone quite dynamic movements with high volatility levels during the first three months of 2026. Notably, the Composite Stock Price Index (JCI) has corrected by nearly 17% as of 1 April 2026.

“As of 1 April 2026, the JCI stood at 7,184.44, having experienced a year-to-date correction of 16.91%,” revealed Hasan Fawzi, the Executive Head of Capital Market, Derivatives Finance, and Carbon Exchange Supervision at OJK, during a press conference on the achievements of Indonesia’s capital market reforms at the Indonesia Stock Exchange (BEI) building in Jakarta on Thursday (2/4/2026).

This weakening performance has occurred amid escalating geopolitical tensions unfolding in the Middle East, as well as domestic conditions related to the release of updated international ratings regarding the outlook for Indonesia’s capital market.

Nevertheless, Hasan stated that this correction is not unique to the Indonesian capital market but is also being experienced by nearly all exchanges in the region and globally. “This certainly also demonstrates and reflects external dynamics rather than a response solely to domestic fundamental conditions,” he said.

He explained that amid the occurring dynamics, OJK, along with the Indonesia Stock Exchange (BEI) and self-regulatory organisations (SROs), continues to monitor developments on a daily basis to gauge and measure the extent of investor reactions.

“And we confirm that so far, the resilience or endurance of our domestic market remains maintained and intact. For example, share transaction activity has continued to show solid and high figures, with the average daily transaction value reaching Rp20.66 trillion during March 2026,” he clarified.

He noted that liquidity in the market also remains stable, with the bid-ask spread range at a relatively good level of 1.55 times.

Furthermore, in the mutual fund industry, even amid challenging conditions like the current ones, growth has still been recorded, with net asset value (NAV) reaching Rp655.71 trillion, up 3.02% year-to-date.

In addition, he continued, the capital market continues to function as a means to obtain funding sources. Corporate fundraising has totalled Rp51.96 trillion up to the end of March 2026.