JCI Opens Down 2%
Jakarta, CNBC Indonesia — The Jakarta Composite Index (JCI) came under heavy selling pressure at the start of trading on Thursday (22 October 2026). It stood at 5,217.14, down 111.22 points, or 2.09%.
During the early session, the index traded within a narrow range, reaching a high of 5,250.94 and a low of 5,213.34. The JCI fell sharply after opening before moving sideways at around 5,215.
Trading volume was 8.75 million lots, with a total transaction value of Rp408.56 billion.
On Thursday, market participants were monitoring several important developments at home and abroad.
These included Bank Indonesia’s (BI) decision to keep its benchmark interest rate unchanged, alongside new policies intended to encourage bank lending.
Investors were also watching President Prabowo Subianto’s remarks at a plenary Cabinet meeting, including his response to the threat of Indonesia’s stock-market classification being downgraded by MSCI.
Overseas, renewed increases in UK inflation and a surge in French government bond yields were among the factors attracting attention.
Prabowo commented on a statement by global index provider MSCI, which said it was considering changing Indonesia’s stock-market classification from Emerging Market to Standalone Market. He described MSCI’s statement as pressure intended to frighten Indonesian market participants.
“We still face many disruptions; we keep being obstructed by all sorts of things — MSCI and the like, trying to scare us,” Prabowo said, as quoted by CNBC Indonesia on Wednesday (21 October 2026).
MSCI is consulting market participants on the possibility of changing Indonesia’s classification from Emerging Market to Standalone Market. The consultation is scheduled to continue until April 2027, with a final decision due no later than 30 June 2027.
Despite the significant pressure on the stock market, Prabowo stressed that Indonesia would not be deterred by these challenges.
Market participants will also continue to monitor the capital-market reforms being pursued by Indonesian authorities, particularly those concerning share-ownership transparency and enforcement of trading rules. These measures are in focus ahead of MSCI’s final decision in June 2027.