JCI Plunges Over 2%, Approaches 5,600 Level

Jakarta - The Jakarta Composite Index (JCI) fell further in trading on Friday (5/6/2026), extending pressure after tumbling nearly 2% the previous day. At the market open, the JCI rose 0.11% to 5,846.49. However, selling pressure returned and dominated, pushing the index down deeper to 5,718.38, a drop of 121 points (-2.08%), within less than an hour of opening. During this morning’s session, the JCI touched a high of 5,860 and a low of 5,714. The majority of stocks remained in the red, with 469 shares declining, while only 156 shares advanced and 107 were unchanged. Transaction value at the start of trading reached Rp 6.18 trillion, with a trading volume of 7.81 billion shares changing hands across 648,000 transactions. The bourse’s market capitalisation was trimmed to Rp 10,096 trillion. Previously, on Thursday (4/6/2026), the JCI experienced severe pressure. At the start of the session, the index had plunged up to 5% to 5,644.23 before paring most of its losses towards the close. The JCI eventually finished at 5,839.78, down 1.7%, after falling 3.48% at the end of the first session. The movement of foreign investors was a major focus. In the first session, foreigners still recorded a net buy of Rp 179 billion. However, the situation shifted dramatically towards the close. Data showed foreign investors booked total purchases of Rp 12.52 trillion and sales of Rp 13.79 trillion, resulting in a net sell of Rp 1.27 trillion across all markets. The largest sell-off was concentrated in major banking stocks. Foreign investors offloaded BBCA worth Rp 475.5 billion, followed by BBRI at Rp 451.6 billion, BMRI at Rp 164 billion, and BBNI at Rp 106.2 billion. In total, these four large banks recorded a foreign sell exceeding Rp 1.19 trillion. This continued correction drove the JCI back to its lowest level in five years. Negative sentiment came from various directions, ranging from a downgrade in the outlook for Danantara Investment Management, the weakening of the rupiah which has breached Rp 18,000 per US dollar, to market concerns over the upcoming assessment results from rating agencies and the MSCI evaluation to be announced this June. These conditions prompted investors to reduce their exposure to risky assets in Indonesia. Meanwhile, Asia-Pacific stock markets opened lower on Friday (5/6/2026), with the South Korean market leading the region’s decline. Negative sentiment emerged after technology stocks on Wall Street corrected in overnight trade, triggering a sell-off in Asia’s tech sector. South Korea’s Kospi index plunged 4.11%, with large-cap stocks such as Samsung Electronics and SK Hynix falling around 6% and 8% respectively. Meanwhile, the small-cap Kosdaq index also fell 2.41%. In Japan, the Nikkei 225 index corrected 1.1%, tracking the global tech sector’s weakness. Australia’s S&P/ASX 200 index fell 0.2% in early trade. The outlook for the Hong Kong market was also tilted to the downside. Hang Seng index futures last traded at 25,158, lower than the Hang Seng index’s close on Thursday at 25,253.40. The decline in Asian markets followed mixed movements on Wall Street in local Thursday trading. The Dow Jones Industrial Average actually hit a new record high after surging 874.86 points, or 1.73%, to 51,561.93. In contrast, the tech-heavy Nasdaq Composite fell 0.09% to close at 26,830.96. The S&P 500 still managed to gain 0.41% to 7,584.31.