JCI Plummets 0.91% Pressured by Mining Royalty Sentiment and Rupiah Weakening Past Rp17,400

The Jakarta Composite Index (IHSG) plummeted 0.91% or 63.77 points to close at 6,905.62 during trading on Monday, 11 May 2026. The correction occurred after the IHSG moved fluctuatively, tending towards weakness.

Analysts at Phintraco Sekuritas observed that the IHSG experienced a limited rebound following reports that the Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, postponed plans to implement mining royalty tariffs for commodities such as copper, tin, nickel, gold, and silver, in order to devise a more optimal and fair formulation for all parties.

On the other hand, Finance Minister Purbaya Yudhi Sadewa assured that regulations adjusting mining company royalty tariffs would begin to apply in early June 2026. Purbaya stated that a Presidential Regulation on the matter would be issued shortly. As a result, the IHSG weakened again.

“The rupiah’s weakening to above Rp17,400 per US dollar also added to the negative sentiment,” stated Phintraco Sekuritas analysts in their daily research on Monday, 11 May 2026.

Almost all stock sectors experienced sharp declines. The infrastructure sector was the only one to record a positive result of 1.52%.

The transportation sector plunged the deepest at 2.88%, the energy sector fell 2.02%, and the financial sector eroded 1.74%.

Trading value reached Rp20.26 trillion, while daily transaction volume amounted to Rp38.38 billion. The number of trading activities conducted by investors totalled 2.77 million transactions.

Technically, the MACD histogram turned more negative. Additionally, a Death Cross occurred in the Stochastic RSI at the pivot area.

The JCI’s movement aligned with the majority of indices on Asian exchanges, which also closed weaker. This correction coincided with rising crude oil prices after US President Donald Trump rejected a peace proposal from Iran.