JCI Opens Up 0.16% at 7,313 Level

The Jakarta Composite Index (JCI) started the morning in positive territory on Thursday (26/3/2026). The index opened up 0.16% or strengthened by 11.54 points to the level of 7,313.66.

A total of 277 stocks rose, 49 fell, and 278 remained unchanged. The transaction value reached Rp182 billion, involving 251.59 million shares in 28,350 transactions. Market capitalisation was also pulled up to Rp12,901 trillion.

Shortly after the market opened, the JCI corrected more sharply by up to 0.66%, before gradually trimming the weakness.

Indonesia’s financial markets, from the JCI to the rupiah, collectively strengthened on the first trading day after the long Eid al-Fitr holiday.

Investor optimism emerged alongside hopes of easing global geopolitical tensions after reports that the United States is preparing a diplomatic proposal to defuse the conflict in the Middle East.

However, behind this strengthening, market participants are still monitoring developments in geopolitical conflicts, which are the main source of global volatility, awaiting several data releases, and tracking the progress of domestic fiscal tightening plans.

Sentiment influencing today includes developments in the Iran-US conflict and the latest policies from Indonesian Finance Minister Purbaya Yudhi Sadewa.

The war between Iran and the United States (US) and Israel has now entered its fourth week since the conflict erupted at the end of February 2026.

Amid ongoing military escalation, signals of diplomacy are beginning to emerge behind the scenes. Reports from several international media outlets indicate that the administration of President Donald Trump has sent a draft peace proposal to Tehran via Pakistan’s military chief, Field Marshal Syed Asim Munir, who is acting as an indirect communication intermediary between the two parties.

The proposal, known as the “15-Point Proposal”, contains major demands on Iran regarding its nuclear programme and regional policies.

Among them are the dismantling of all of Iran’s military nuclear capabilities, the complete cessation of domestic uranium enrichment activities, and the handover of all enriched uranium stocks to the International Atomic Energy Agency (IAEA).

Oil prices came under pressure in Wednesday’s trading. The West Texas Intermediate (WTI) futures contract fell 2.2% to close at US$90.32 per barrel.

Meanwhile, international Brent also dropped 2.17% to US$102.22. This weakening of oil prices is good news as it could ease investor concerns about potential inflation spikes.

From the domestic front, Finance Minister Purbaya Yudhi Sadewa has opened the possibility of placing government funds in private banks, but with strict conditions. He emphasised that only banks with strong fundamentals or a “healthy kitchen” would be considered.

“Private banks, if they want, we will open it up later, the healthy ones. If not, I’ll go to prison again,” said Purbaya during a halal bihalal gathering with reporters on Wednesday (25/3/2026).

On the same occasion, Purbaya revealed that he has added government fund placements to state-owned bank groups (Himbara) and Bank Jakarta by Rp100 trillion. With this addition, the total funds placed amount to around Rp300 trillion.

Meanwhile, Asia-Pacific markets moved mixed on Thursday after Iran signalled that it does not intend to hold direct talks with the United States, although Tehran is reviewing the US proposal to end the war, according to the Islamic Republic’s foreign minister.

Iranian Foreign Minister Abbas Araghchi said that the exchange of messages between the two countries through a mediator “does not mean Iran is negotiating with the US”, reported Reuters.

Australia’s S&P/ASX 200 index was flat in early trading.

Japan’s Nikkei 225 index rose 0.28%, while the Topix rose 0.43%. South Korea’s Kospi index fell 1.55%, and the Kosdaq index for small-cap stocks was almost unchanged.

Hong Kong’s Hang Seng index futures were at 25,268 compared to the last close of the index at 25,335.95.

Oil prices stabilised during Asian trading hours. West Texas Intermediate crude oil futures rose 0.72% to $91 per barrel.

Overnight in the US, the Dow Jones Industrial Average rose 305.43 points, or 0.66%, closing at 46,429.49. The S&P 500 rose 0.54% to 6,591.90, and the Nasdaq Composite rose 0.77% to 21,929.83.