JCI Falls More Than 2%: Five Stocks Recommended Today
The Jakarta Composite Index (JCI) closed down 2.59% at 5,936.15 on Monday (12 October). Several shares influenced the index: INKP (+4.83%), BBRI (+0.32%) and MLPT (+8.74%) rose, while DSSA (-14.60%), BREN (-11.48%) and BBCA (-1.65%) recorded the biggest declines.
Foreign investors registered net purchases of Rp81.10 billion on the regular market and Rp128.29 billion across all markets. All 11 sectors closed in negative territory. Energy fell the most, by 5.88%, while Health recorded the smallest decline, at 0.72%.
In the US market, the Dow Jones rose 0.38% to 51,850, the S&P 500 edged down 0.06% to 7,807, and the Nasdaq fell 0.44% to 27,245. Domestic market sentiment remained affected by uncertainty surrounding MSCI’s review, as investors focused on whether the suspension of index changes would continue.
This was also reflected in declines of 1.85% in the EIDO ETF and 1.23% in the MSCI Indonesia index.
Among listed companies, Astra International (ASII) recorded wholesale car sales of 334,987 units through the third quarter of 2026, up 12.62% year on year from 297,437 units in the first nine months of 2025. Those sales accounted for 49.33% of national wholesale sales, which totalled 679,018 units.
Toyota and Lexus contributed the largest share, with 198,873 units, followed by Daihatsu with 112,442. Commercial vehicle sales included 22,975 Isuzu vehicles and 697 UD Trucks. In the low-cost green car (LCGC) segment, ASII had an estimated 80% market share, selling 66,903 units.
In line with its automotive business, ASII will conduct a voluntary tender offer (VTO) for shares in its subsidiary Astra Otoparts (AUTO) from 13 October to 11 November 2026. ASII aims to buy up to 238.44 million shares, equivalent to 4.95% of AUTO’s paid-up capital, at Rp3,600 per share.
The transaction is valued at up to Rp858.39 billion and is intended to strengthen ASII’s ownership of its automotive components business.
Pertamina Geothermal Energy (PGEO) has completed the drilling of five geothermal wells across three operating areas during 2026.
The drilling comprised one exploration well, GTG-B.1 at Gunung Tiga, completed on 9 June 2026, and four production-support, or make-up, wells at Lumut Balai, Ulubelu and Lahendong. Drilling at Lumut Balai also supports the development of Unit 3, with a capacity of 55 MW.
PGEO currently manages 15 geothermal working areas with total installed capacity of 1,932 MW, or around 70% of Indonesia’s total geothermal capacity.
Visi Media Asia (VIVA) also plans a non-pre-emptive rights issue (PMTHMETD), issuing up to 43.09 billion new Series C shares with a nominal value of Rp40 each.
The corporate action will convert PKPU restructuring debt of Rp1.72 trillion owed to PT Harta Abadi Jaya (HAJ) and PT Jayakarta Sugih Makmur (JSM), in implementation of the homologation decision. VIVA will therefore receive no new funds from the transaction. HAJ and JSM are affiliated parties, both controlled by PT Bakrie Global Ventura (BGV).
The exercise price will be set at the higher of the nominal value of Rp40 per share or the average closing price over the 25 trading days before the application for listing. Existing shareholders could face dilution of 72.35%.
On a pro forma basis, the liabilities-to-equity ratio is expected to fall from 11.78 times to 1.86 times, as equity rises from Rp496.10 billion to Rp2.22 trillion.
The PMTHMETD plan will be submitted for approval at an extraordinary general meeting of shareholders on 17 November 2026, with the new shares scheduled to be listed on 3 December 2026.
Today’s stock recommendations
ICBP — Buy at 6,975–7,025 | Target price: 7,150–7,250 | Stop loss: 6,700
JPFA — Buy at 2,050–2,070 | Target price: 2,110–2,150 | Stop loss: 1,970
DOOH — Buy at 296–302 | Target price: 310–318 | Stop loss: 280
HATM — Buy at 570–580 | Target price: 590–605 | Stop loss: 540
SMRA — Buy at 238–242 | Target price: 248–254 | Stop loss: 228
Disclaimer: The analysis and stock recommendations in this article are for informational purposes only and do not constitute an invitation to buy or sell any particular shares.