JCI drops 4 per cent to 5,594 burdened by weakness across all sectors
The Indonesia Composite Index (JCI) on the Indonesia Stock Exchange (IDX) closed lower on Friday afternoon, burdened by a decline across all eleven stock sectors. The JCI dropped by 245.01 points, or 4.20 per cent, to the 5,594.77 level. Meanwhile, the LQ45 index, comprising 45 blue-chip stocks, fell 23.17 points, or 3.99 per cent, to 557.75.
Ratna Lim, Head of Research at Phintraco Sekuritas, noted in her Jakarta-based analysis on Friday that policy uncertainties and market rumours have re-introduced selling pressure to the Indonesian capital market. Domestically, the market reacted to the revision of the P2SK Law, which has sparked concerns regarding potential interference with the independence of financial institutions.
On the fiscal front, the Ministry of Finance reported that the 2026 State Budget (APBN) realisation up to May 2026 recorded a deficit of Rp180.4 trillion (0.7 per cent of GDP), compared to a deficit of Rp20.9 trillion (0.09 per cent of GDP) during the same period in 2025. However, this deficit remains below the 2026 target of Rp689.1 trillion (2.68 per cent of GDP).
Meanwhile, the Rupiah exchange rate closed at Rp18,049 per US Dollar. The weakening Rupiah has triggered market speculation that Bank Indonesia (BI) may hold an emergency Board of Governors Meeting ahead of the scheduled meeting on 17-18 June 2026. Looking ahead to next week, market participants are awaiting the release of May 2026 foreign exchange reserve data on Monday (8/6), May 2026 consumer confidence on Wednesday (10/6), and April 2026 retail sales on Thursday (11/6).
“Amid a lack of positive catalysts and under the pressure of negative sentiment, the JCI is expected to potentially test the 5,500 level next week,” said Ratna.
According to the IDX-IC Sectoral Index, all eleven sectors weakened, with the transportation and logistics sector experiencing the deepest decline at 5.75 per cent, followed by the industrial and energy sectors, which fell by 5.64 per cent and 5.37 per cent, respectively. The highest gainers included MUTU, MMIX, CBPE, LFLO, and BTON, while the largest decliners were WIFI, ARKO, RSGK, APIC, and RMKE. Trading frequency was recorded at 2,194,595 transactions, with 38.04 billion shares traded worth Rp31.73 trillion. In the regional context, Asian markets also faced declines, with the Nikkei falling 1.26 per cent, the Shanghai Composite down 0.74 per cent, the Hang Seng dropping 1.15 per cent, and the Straits Times declining 0.46 per cent.