JCI Opens 0.36% Lower at 5,914
Indonesia’s Composite Stock Price Index (JCI) began trading in negative territory on Tuesday morning. It opened at 5,914.98, down about 21.17 points, or 0.36%.
The decline continued after the opening. The index briefly reached a high of 5,915.00 before falling to a low of 5,881.75. At 09:00 Western Indonesian Time, the JCI stood at 5,885.81, down 50.34 points, or 0.85%, from the previous close.
Trading was relatively active in the opening minutes, with volume reaching 12.78 million lots and transaction value totalling Rp264.6 billion.
After heavy losses in the previous session, Indonesia’s financial markets were expected to face further pressure on Tuesday.
Uncertainty surrounding MSCI, an intensifying war and a meeting of the International Monetary Fund (IMF) were among the factors expected to move markets that day.
Here are some of the market factors:
- War developments: Houthis launch missiles and drones at Saudi Arabia
Saudi Arabia faced further missile and drone attacks by Yemen’s Houthi group on Monday (12 October 2026). Riyadh International Airport remained closed after a missile attack on Saturday killed 13 people and injured more than 300.
The Saudi-led coalition reported a new threat of attack amid an escalation of the conflict, which has spread from the US-Iran war. The Houthis have also continued to target Saudi oil facilities and infrastructure, fuelling concerns about the security of global energy supplies.
Saudi Arabia has become involved in the Yemen conflict again in an effort to put pressure on the Houthis near the Bab el-Mandeb Strait, a strategic shipping route for the oil trade. However, forces backed by Riyadh continue to face resistance on several fronts.
Amid the conflict, Iran offered to mediate between the Houthis and Saudi Arabia. The United Arab Emirates, meanwhile, called for stronger security and defence co-operation among Gulf states.
US President Donald Trump had previously said Washington was considering joining Saudi Arabia in attacking the Houthis. So far, however, there have been no signs that the US will launch a military operation.
- Oil prices rise as dollar index surges
Global oil prices rose by nearly US$2 a barrel on Monday (12 October 2026). Attacks on Saudi Arabia raised concerns about supply disruption, outweighing the prospect of additional supply after US President Donald Trump announced increased Russian diesel exports and a Russia-Ukraine ceasefire covering attacks on energy infrastructure.
Brent crude futures settled US$1.93, or 1.8%, higher at US$106.65 a barrel, their highest level since 15 September. US West Texas Intermediate (WTI) crude rose US$1.89, or 2%, to US$93.74 a barrel.
- MSCI concerns
Phintraco Sekuritas analyst Desy Erawati said sentiment surrounding Morgan Stanley Capital International (MSCI) continued to weigh on the JCI. The market is monitoring the risk of Indonesia being downgraded from emerging-market to frontier-market status, as well as the prospect that a freeze on certain MSCI index changes could be lifted, projected for the second half of 2027.
“Market concerns are still related to MSCI,” Desy told CNBC Indonesia on Monday (12 October 2026).