JCI Potentially Flat Amid Domestic and International Sentiments

Jakarta (ANTARA) - The Jakarta Composite Index (JCI) of the Indonesia Stock Exchange (BEI) on Tuesday is potentially set to move sideways, driven by sentiments from both domestic and international sources. The JCI opened stronger by 11.85 points or 0.17 percent to 7,001.28. Meanwhile, the LQ45 index of 45 leading stocks fell by 0.41 points or 0.06 percent to 707.35. “Kiwoom Research encourages investors to think rationally, setting the previous low of 6,920 as the nearest support level, which is still considered sufficiently robust for now. However, speculation remains high, and a wait-and-see approach is recommended,” said Head of Research at Kiwoom Sekuritas Indonesia, Liza Camelia Suryanata, in her analysis in Jakarta on Tuesday. From the domestic side, FTSE Russell’s status for February 2026 retains Indonesia as a secondary emerging market, without any downgrade despite prior market concerns. However, it is highly likely that FTSE Russell’s assessment considers the implementation of reforms already underway, such as the opening of ownership data above 1 percent, publication of the high shareholding concentration list, and an increase in the minimum free float to 15 percent through the revision of Exchange Regulation I-A, effective 31 March 2026. Next, market participants will await the announcement of the results of Indonesia’s index weight review by MSCI for May 2026, which will determine whether it remains in the emerging market or is downgraded to frontier market. On the other hand, aviation turbine fuel prices in Indonesia experienced an increase of up to 72.45 percent month-to-month in April 2026, with rises occurring at all major airports such as CGK, SUB, DPS, KNO, and UPG.