JCI Plunges Over 1% Ahead of MSCI Announcement

The Jakarta Composite Index (JCI) weakened during trading on Tuesday (23/6/2026), amid cautious market sentiment as investors awaited the MSCI announcement tomorrow. The JCI plunged 1% or 61 points to 6,055.70 at 11:30 WIB, and subsequently came under deeper pressure to the 6,041 level. Transaction value towards the end of the first session was recorded at Rp 5.77 trillion, with a volume of 10.06 billion shares changing hands across 897,594 transactions. A total of 215 stocks rose, 410 stocks fell, and 182 stocks were stagnant. The most actively traded issuers today included DSSA, TPIA, BBCA, BBRI, and BMRI. The majority of trading sectors weakened, with the deepest correction recorded by the energy sector, which fell 3.47%. Other sectors that came under deep pressure included financials and consumer. Specifically, shares of Bayan Resources (BYAN), which entered its ex-dividend date yesterday, were the main drag on JCI performance, contributing 18 index points to the decline. Other issuers that weighed on JCI performance included SMMA, BBCA, and BMRI. The MSCI Classification announcement is scheduled for 24 June 2026. Market participants are awaiting the fate of the Indonesian market, whether it will retain its Emerging Market (EM) status or be downgraded to Frontier Market. In addition, a number of important sentiments are expected to colour the movement of the Jakarta Composite Index (JCI) on Tuesday (23/6/2026). Positive sentiment came from easing geopolitical tensions in the Middle East, which triggered a decline in world oil prices, government economic stimulus, and plans to diversify state financing through the issuance of Panda Bonds. The most positive news for the market came from developments in United States-Iran relations. The US officially relaxed sanctions against Iran for 60 days after the initial round of peace talks showed significant progress. The market response was swift. Brent oil prices for August delivery closed down 3.31% to US$77.90 per barrel, while West Texas Intermediate (WTI) crude weakened 2.32% to US$74.82 per barrel. The decline in oil prices is a positive sentiment for Indonesia as a net oil importer. Lower energy prices can potentially reduce inflationary pressures, maintain rupiah stability, and improve the government’s fiscal prospects. Domestically, the government also recently announced a semester II-2026 economic stimulus package worth Rp 26.34 trillion. The stimulus includes food aid, a national internship programme, transport discounts, flight ticket subsidies, and incentives for the industrial sector. This stimulus package is expected to maintain public purchasing power while supporting economic growth amid global uncertainty. Furthermore, the market is also observing the government’s plan to issue Panda Bonds, or yuan-denominated debt securities. Finance Minister Purbaya Yudhi Sadewa stated that this scheme could reduce dependence on the US dollar and help ease pressure on the rupiah through a Local Currency Transaction (LCT) mechanism.