JCI Enjoys Happy Weekend, Up 0.17% to 7,634

Jakarta, CNBC Indonesia - The Composite Stock Price Index (JCI) strengthened modestly today, Friday (17/4/2026). The index rose 12.62 points or 0.17% to 7,634 at the close of the second trading session.

A total of 323 stocks rose, 337 fell, and 160 remained unchanged. The transaction value today was recorded at Rp 15.97 trillion, involving 41.05 billion shares in 2.33 million transactions. Market capitalisation also increased to Rp 13,661 trillion.

Quoting Refinitiv data, the majority of trading sectors strengthened today, with the highest gains recorded in infrastructure, property, and primary consumer sectors. Meanwhile, the financial, industrial, and basic materials sectors experienced the deepest corrections.

Specifically, Barito Renewables Energy (BREN), an emitter in the renewable energy group of Prajogo Pangestu, became the main supporter of the JCI’s performance with a contribution of 11.07 index points.

This was followed by Astra International (ASII) with a contribution of 6.98 index points. Astra shares rose 2.82% to Rp 6,375 per share today. Then followed by Bank Rakyat Indonesia (BBRI), which rose 0.59% to 3,430 per share with a contribution of 3.14 index points.

There were also RISE and EMAS shares, each rising 2.96 and 2.84 index points.

Several other emitters that also supported the JCI’s performance today include CUAN, MDKA, MBMA, AADI, and EXCL.

Today marks the last trading day of the week, with market participants facing a series of crucial fundamental and geopolitical sentiments.

External dynamics coloured by tensions in the Middle East region, anomalies in the US derivatives market, and the release of China’s macroeconomic data will be the main driving factors.

Leaders of Israel and Lebanon have agreed to a 10-day ceasefire after officials from both countries met in Washington.

The temporary ceasefire will begin at 5:00 p.m. Eastern Time (ET), Trump posted on Truth Social.

In a follow-up post, Trump added that he would invite Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun to the White House for “the first meaningful talks between Israel and Lebanon since 1983, a very long time.”

“Both sides want to see PEACE, and I am confident it will happen, quickly!” Trump wrote, quoted from Reuters.

The US State Department in a statement released Thursday night said that both countries will work to create conditions supporting long-term peace between the two nations, full recognition of each other’s sovereignty and territorial integrity, and building real security along their shared border, while maintaining Israel’s inherent right to self-defence.

In a separate development, oil tanker shipping traffic in the Strait of Hormuz has begun to show movement although conditions remain far below normal capacity amid ongoing geopolitical tensions.

Based on maritime movement data, several very large crude carriers (VLCCs) have been observed crossing the area.

One of them is the RHN vessel with a carrying capacity of around two million barrels of crude oil with an estimated cargo value of US$160 million, as well as the Alicia vessel heading to the Persian Gulf.

Although there is movement activity, overall shipping volume has still plummeted by up to 90% compared to normal conditions before the conflict broke out.

Amid this restriction, US President Donald Trump claimed that his side has permanently opened the Strait of Hormuz. This policy is said to be the result of an agreement with China, where Beijing has agreed to no longer send arms supplies to Iran.

Domestically, amid global uncertainty, positive sentiment flows for the domestic economy after the rating agency Standard & Poor’s decided to maintain Indonesia’s credit rating at BBB with a stable outlook.

Finance Minister Purbaya Yudhi Sadewa explained that S&P appreciates the Indonesian government’s commitment to maintaining fiscal discipline, particularly efforts to keep the budget deficit below 3% of GDP.

Based on the latest audit results, the fiscal deficit was realised lower at 2.8%. Another factor adding to the rating agency’s confidence is the improvement in state revenue collection performance.

Tax revenue performance, which grew by up to 30% in the first two months of this year, is seen as a positive result of tax and customs organisation restructuring.

Nevertheless, the ministry acknowledges special attention from S&P regarding the debt interest payment ratio to revenue, which is above 15%, where this indicator will continue to be monitored.

“They (S&P) asked in detail about our fiscal condition including this year’s and last year’s deficit; mainly they want to see if we consistently keep it below 3 percent of GDP,” he explained.

“I said we are consistent with that policy; President Prabowo has directed that our deficit be kept below 3 percent,” Purbaya clarified.

According to Purbaya, there is some concern from S&P regarding debt payments to revenue or taxes. Purbaya immediately explained that this can be controlled going forward and is not yet at a dangerous level in line with improvements in tax and excise collection.

Organisational restructuring steps for the Directorate General of Taxes and Directorate General of Customs have also been carried out to improve their performance.

“And when we told them that tax growth this year for two months is 30 percent and for January-March compared to last year grew 20 percent, they seem quite satisfied,” Purbaya said.