JCI Falls 1%: Here’s What’s Behind the Decline
Jakarta, CNBC Indonesia — The Jakarta Composite Index (JCI) weakened again in the first trading session today. At 9.35am WIB, it stood at 5,209.5, down 69.39 points, or 1.31%.
Trading volume totalled 90.27 million lots, with transaction value reaching Rp5,237.63 billion.
According to Refinitiv data, the decline was led by the energy sector, which fell 3.1%, followed by basic materials, down 1.8%, and consumer non-cyclicals, down 1.4%.
The stocks weighing on the JCI included PT Bayan Resources Tbk (BYAN), PT Mora Telematika Indonesia Tbk (MORA), PT DCI Indonesia Tbk (DCII), PT Merdeka Copper Gold Tbk (MDKA) and PT VKTR Teknologi Mobilitas Tbk (VKTR).
Among the stocks that helped cushion the decline were PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Bank Mandiri (Persero) Tbk (BMRI), PT Telkom Indonesia (Persero) Tbk (TLKM), PT Bank Central Asia Tbk (BBCA) and PT Astra International Tbk (ASII).
Market participants are expected to continue monitoring the Indonesia Stock Exchange (IDX), the government and Danantara’s responses to the MSCI announcement, share buybacks by several conglomerate-listed companies, and President Prabowo Subianto’s direction to strengthen enforcement of capital-market regulations.
Indonesia’s financial markets on Wednesday, 21 October 2026, also remained under the influence of key domestic and international factors. Investors’ main focus was Bank Indonesia’s (BI) interest-rate announcement due today.
Overseas, China’s central bank decision to keep interest rates unchanged and the release of UK employment data also shaped market sentiment.
The shadow of MSCI has not fully lifted. Fears that Indonesia could be downgraded from Emerging Market to Standalone Market were the main trigger for heavy selling last week. The market is now waiting for Danantara’s planned share purchases and assessing whether the rally in state-owned company shares can continue.
The spotlight is now on BI. Its Board of Governors meeting, which began on Tuesday, is due to announce its interest-rate decision today, as the rupiah has at one point weakened past Rp18,000 against the US dollar.
A CNBC Indonesia Research poll of 13 institutions found that 10 respondents expected BI to raise its rate by 25 basis points to 6.00%. The other three predicted that the rate would be held at 5.75%. If implemented, the increase would be the first after BI held rates steady for three consecutive months, following cumulative hikes of 100 basis points in May and June 2026.