JCI Opens 0.35% Lower at 5,039

The Jakarta Composite Index (JCI) opened lower at the start of the week on Monday (2 November 2026). It began trading at 5,039.54, down 17.51 points, or about 0.35%, from the previous close of 5,057.05.

Selling pressure continued after the open. At 9.01am Western Indonesia Time, the JCI stood at 5,016.91, down 40.14 points, or 0.79%.

Trading volume reached 18.97 million board lots, with transactions valued at Rp486.39 billion.

Indonesian and global financial markets face a critical week at the start of November 2026. A number of economic and political events could move the rupiah, the JCI, bond yields and foreign capital flows.

In Indonesia, investors are awaiting inflation, third-quarter 2026 economic growth, trade balance and foreign-exchange reserve data. In the US, the midterm elections, employment figures and manufacturing activity are in the spotlight.

Here are 10 key developments and market signals to watch in the coming week.

1. New IDX rule: HSC shares removed from the JCI

The Indonesia Stock Exchange (IDX) will exclude shares with high shareholding concentration (HSC) from the JCI calculation from Monday (2 November 2026).

IDX President Director Jeffrey Hendrik said the policy would not automatically trigger a sharp fall or surge in the index. The weight of the excluded shares will be redistributed among the JCI’s other constituents.

2. Indonesia’s manufacturing PMI

On Monday (2 November 2026), S&P Global will release Indonesia’s manufacturing PMI for October 2026.

Manufacturing activity returned to expansion in September 2026 after contracting in August. The Purchasing Managers’ Index (PMI) stood at 52.48 in September, indicating expansion.

3. October 2026 inflation

Statistics Indonesia (BPS) will release October inflation data on Monday (2 November 2026). A CNBC Indonesia poll of 12 institutions and organisations found that the market consensus expects the Consumer Price Index (CPI) to rise by 0.24% month on month in October 2026.

Annual inflation is forecast to reach 3.25% year on year.

4. China’s manufacturing data

China will release the RatingDog manufacturing PMI for October 2026.

The RatingDog manufacturing index rose to 52.1 in September from 51.5 in August, exceeding the market expectation of 51.6. This marked the strongest expansion since April.

5. US midterm elections: a major test for Trump

The US midterm elections will be held on Tuesday (3 November 2026) local time. The vote will determine control of Congress and affect President Donald Trump’s ability to advance his administration’s agenda.

All 435 seats in the House of Representatives and 35 of the Senate’s 100 seats are being contested. Historically, the party occupying the White House tends to lose House seats in midterm elections.

A Reuters/Ipsos poll completed on 26 October put Trump’s approval rating at 32%. Democrats also led among registered voters, with 47% support compared with 36% for Republicans.

The result could affect the direction of US fiscal and political policy, making it a focus for global investors.

6. US labour-market data

The US will release several labour-market indicators this week.

The September 2026 Job Openings and Labour Turnover Survey (JOLTS), which measures labour demand through the number of available vacancies, is due on Tuesday (3 November 2026).

The ADP report for September 2026 will follow on Wednesday (4 November 2026). It will provide an indication of changes in private-sector employment, although differences in methodology mean it cannot be used as a direct forecast of the government’s official employment report, or non-farm payrolls (NFP).

The main focus will be Friday (6 November 2026), when October 2026 NFP and unemployment figures are due.

7. US manufacturing and services data

The US is due to release its October 2026 ISM manufacturing and services data on Monday (the source states 2 December 2026), followed by the October manufacturing PMI on Wednesday (4 November 2026).

The US services PMI fell to 54.9 in September 2026 from 55.4 in August, but remained in expansion for the 27th consecutive month. Business activity and new orders slowed, while employment returned to modest growth.

The US manufacturing PMI edged down to 54.5 in September from 54.6 in August, but still indicated strong expansion. New orders and employment rose, while output slowed.