JCI Reverses Course! Opens Up 1%, Now Plunges 1%

Jakarta, CNBC Indonesia — The Composite Stock Price Index (JCI) reversed direction during trading on Tuesday (12/5/2026) after initially surging 1% at the start of the session, amid high market volatility ahead of the announcement of the Morgan Stanley Capital International (MSCI) index review results today.

According to data from the Indonesia Stock Exchange (BEI), the JCI initially strengthened by 0.98% to the level of 6,973.22. However, shortly afterwards, the index sharply reversed to weaken.

As of 09:16 WIB, the JCI was recorded down 69.88 points or 1.01% to the level of 6,835.74. The index’s lowest point reached 6,834.64.

The market transaction value reached Rp 1.799 trillion with a trading volume of 4.28 billion shares in 344,000 transactions. A total of 208 stocks rose, 371 fell, and 380 remained stagnant.

This drastic reversal in the JCI’s movement occurred amid increasing investor caution ahead of the MSCI index review and rebalancing announcement scheduled for today.

Market participants had previously anticipated potential changes to Indonesia’s weighting in the global MSCI index, including the possibility of several stocks being removed from the MSCI Global Standard Indexes. This sentiment has made the market move very fluctuatively since the start of trading.

In addition to the MSCI factor, investors are also monitoring developments in global geopolitical tensions as well as the direction of foreign fund flows in the domestic market.