JCI Falls 1.29% in First Session as Investors Await MSCI Decision

The Jakarta Composite Index (JCI) weakened during trading on Tuesday (23/6/2026), amid cautious market sentiment as participants awaited the MSCI announcement scheduled for the following day. The JCI closed the first trading session down 1.29%, or 79.17 points, at 6,037.52. During intraday trading in the first session, the JCI had been pressured deeper to the 6,030.09 level. Transaction value towards the end of the first session was recorded at Rp 6.65 trillion, with a volume of 11.45 billion shares changing hands across 1.02 million transactions. A total of 221 stocks rose, 437 stocks fell, and 152 stocks remained stagnant. The most actively traded stocks of the day were DSSA, TPIA, BBCA, BBRI, and BMRI. The majority of trading sectors weakened, with the deepest correction recorded in the energy sector, which fell 4.7%. Other sectors that were also pressured included financials and consumer. Specifically, Bayan Resources (BYAN) shares, which had their dividend ex-date yesterday, were the main drag on the JCI’s performance, contributing 21.46 index points to the decline. Other stocks that weighed on the JCI included SMMA, BBCA, and BMRI. The MSCI Classification announcement is scheduled for 24 June 2026. Market participants are awaiting the fate of the Indonesian market, whether it will retain its Emerging Market status or be downgraded to Frontier Market. Additionally, a number of important sentiments are expected to colour the movement of the Jakarta Composite Index on Tuesday (23/6/2026). Positive sentiment came from the easing of geopolitical tensions in the Middle East, which triggered a decline in world oil prices, government economic stimulus, and plans to diversify state financing through the issuance of Panda Bonds. The most positive news for the market came from developments in relations between the United States and Iran. The US officially eased sanctions against Iran for 60 days after the initial round of peace talks showed significant progress. The market response was swift. The price of Brent crude for August delivery closed down 3.31% at US$77.90 per barrel, while West Texas Intermediate (WTI) crude weakened 2.32% to US$74.82 per barrel. The decline in oil prices is a positive sentiment for Indonesia as a net oil importer. Lower energy prices have the potential to reduce inflationary pressures, maintain rupiah stability, and improve the government’s fiscal outlook. Domestically, the government also recently announced a second-half 2026 economic stimulus package worth Rp 26.34 trillion. The stimulus includes food aid, a national internship programme, transport discounts, flight ticket subsidies, and incentives for the industrial sector. The stimulus package is expected to maintain public purchasing power while supporting economic growth amid global uncertainty. Furthermore, the market is also observing the government’s plan to issue Panda Bonds, or yuan-denominated debt securities. Finance Minister Purbaya Yudhi Sadewa stated that this scheme could reduce dependence on the US dollar and help ease pressure on the rupiah through the Local Currency Transaction (LCT) mechanism.