JCI Plunges Over 1% at Open, Falls Back to 5,700 Level

The Jakarta Composite Index (JCI) opened weaker on Tuesday (30/6/2026), continuing a correction trend that has persisted since last week. At the opening of trading at 09:00 WIB, the JCI fell 0.33% or 19.33 points to 5,801.45. Transaction value was recorded at approximately Rp 316.02 billion, with a trading volume of 164.68 million shares across 21,343 transactions. A total of 168 stocks rose, 90 stocks fell, and 298 stocks remained stagnant. Minutes after the market opened, the JCI plunged deeper into the red, correcting by as much as 1.54% and touching the psychological level of 5,731. The stocks with the largest transaction values at the start of trading were BBCA, BBRI, BMRI, DSSA, and MAPI. Indonesia’s financial market will close trading for the first half of the year today. Heading into the second semester, the stock exchange is expected to recover. Easing war tensions, a weakening US dollar and US Treasury yields, along with government assurances regarding the state budget deficit, are expected to provide positive sentiment for the rupiah and the JCI. However, the release of US jobs data, specifically the JOLTs report, could be a stumbling block. If the data strengthens, there are concerns the Federal Reserve could become increasingly hawkish. Regarding the war update, negotiating teams from the United States and Iran were originally scheduled to meet in Doha this week. However, Iran has confirmed there is no agenda for negotiations with the US, even though both countries have sent delegations to Qatar. Iranian Foreign Ministry spokesman Esmaeil Baghaei stated that the Iranian technical delegation travelling to Qatar was not related to the visit of US envoys Jared Kushner and Steve Witkoff. “We will not hold negotiations with the US side in the coming days,” he said. The conflicting statements reflect the fragility of the ceasefire agreement reached on 17 June to halt the four-month-long war. The conflict had disrupted global oil traffic in the Strait of Hormuz and created political pressure for US President Donald Trump ahead of the November Congressional elections. Based on the memorandum of understanding, both countries have at least 60 days to discuss Iran’s nuclear programme, highly enriched uranium reserves, and to formulate a permanent ceasefire. However, the negotiation process is proceeding slowly as both sides accuse each other of violating the agreement. Meanwhile, domestically, the leadership of the House of Representatives (DPR) together with government officials held a coordination meeting on the economy and efforts to strengthen fiscal and monetary policy as a response to global economic and geopolitical developments. The meeting was chaired by Deputy Speaker of the DPR Sufmi Dasco Ahmad, accompanied by fellow Deputy Speakers Saan Mustopa, Cucun Ahmad Syamsurijal, and Sari Yuliati. Also in attendance were the Chair of the DPR Budget Committee Said Abdullah, Chair of DPR Commission XI Mukhamad Misbakhun, and Deputy Chair of DPR Commission I Budi Djiwandono. From the government, the meeting was attended by Minister of State Secretary Prasetyo Hadi, Minister of Energy and Mineral Resources Bahlil Lahadalia, Deputy Chair of the National Economic Council Mari Elka Pangestu, Bank Indonesia Deputy Governor Thomas Djiwandono, and Ricky Perdana Gozali. According to Dasco, the meeting focused on maintaining economic growth momentum while formulating mitigation measures for various recently emerging challenges. The US Dollar Index weakened to 101.1 on Monday, its lowest in five days. The weakening index indicates investors are selling their dollar assets. This condition is expected to be good news for the rupiah due to the potential inflow from foreign investors into the Garuda currency. Meanwhile, Asia-Pacific stock exchanges opened mostly higher on Tuesday, following a rally on Wall Street in the previous session. Market sentiment was boosted by easing tensions between the United States and Iran, which increased global investor optimism. In Japan, the Nikkei 225 index rose 1.41% in early trading, while the Topix gained 0.88%. In South Korea, the Kospi index was up 1.17%, whereas the small-cap Kosdaq index fell 0.88%. Australia’s benchmark S&P/ASX 200 index traded relatively flat. Market participants are also monitoring several important economic data releases from the United States scheduled for today. On Wall Street, all three major indices closed higher on Monday local time. The S&P 500 rose 1.18%, while the Nasdaq Composite surged 2.07%. The Dow Jones Industrial Average jumped 306.63 points, or 0.59%, closing above the 52,000 level for the first time in history. The index’s rise was supported by a nearly 5% surge in Alphabet shares on the company’s first trading day as a new member of the Dow Jones.