JCI Still Under Pressure, A Range of Stocks Worth Watching

The Jakarta Composite Index (IHSG) closed down 1.85% at 6,599.24 on Monday, 18 May, as market jitters persisted. In the midst of the pressure, shares of PT Telkom Indonesia (Persero) Tbk rose 4.05%, followed by PT Bayan Resources Tbk up 6.25%, and PT Astra International Tbk increasing by 4.35%, becoming a main ballast for the index. Conversely, PT Dian Swastatika Sentosa Tbk declined 14.98%, PT Chandra Asri Pacific Tbk fell 14.88%, and PT Bank Rakyat Indonesia (Persero) Tbk was down 1.92%, weighing on the IHSG. Foreign investors recorded net selling of Rp460.34 billion in the regular market and Rp463.99 billion across the total market. All sectors were in the red, with the transport sector experiencing the deepest weakness at 6.20%. On the global front, US markets closed mixed, with the Dow Jones up 0.32% to 49,686, the S&P 500 down 0.07% to 7,403, and the Nasdaq dropping 0.51% to 26,090. Market participants also watched the potential rise in Bank Indonesia’s policy rate after the rupiah weakened to Rp17,655 per US dollar. This condition is seen as giving BI room to raise the BI Rate from 4.75% to 5.00% to stabilise the currency. Meanwhile, PT Japfa Comfeed Indonesia Tbk (JPFA) posted significant earnings growth for Q1-2026. Revenue rose 23.59% year-on-year to Rp17.71 trillion, from Rp14.33 trillion in the same period a year earlier. The commercial livestock segment contributed the largest growth, up 26.29% YoY to Rp7.04 trillion. However, the cost of goods sold increased 13.37% YoY to Rp13.19 trillion. Nevertheless, JPFA’s net profit surged 157.60% YoY to Rp1.94 trillion from Rp750 billion, and basic earnings per share jumped sharply to Rp156 from Rp59. Technically, JPFA shares were still trading in a range of Rp2,490 to Rp2,640 per share. In corporate actions, PT Equity Development Investment Tbk (GSMF) is preparing to raise capital via private placement, issuing up to 1.42 billion Series C shares or 10% of issued and paid-up capital. Controlling shareholder Equity Global International Ltd. plans to inject Rp150 billion in cash. A total of Rp60.13 billion had been received as of 31 December 2025, with the remaining Rp89.87 billion to be realised following approval at the 25 June extraordinary general meeting of shareholders (RUPSLB). With this corporate action, EGIL’s ownership is projected to rise to 71.17% from 68.28%. PT Cita Mineral Investindo Tbk. (CITA) declared a 2025 cash dividend of Rp351 per share, amounting to Rp1.39 trillion, representing a payout ratio of 57.94% of profit attributable to owners of the parent of Rp2.40 trillion. The dividend per share amount is higher than last year’s Rp328. In 2025, CITA’s net revenue grew 12.58% YoY to Rp2.69 trillion, while net profit declined 3.65% to Rp2.40 trillion, aligning with the lower earnings per share of Rp606 from Rp629. At the last trade, CITA closed at Rp3,800 per share, with an estimated dividend yield of around 9.24%. The ex-dividend date in the regular and negotiated market was set for 22 May, while dividend payments are scheduled for 12 June. Stock picks for the day include ASII, MDIA, UNTR, GSMF, and CPIN with respective buy ranges, target prices, and stop losses. Disclaimer: All analyses and stock recommendations in this article are informative in nature and not a call to buy or sell specific stocks. Investment decisions are entirely at the discretion of each investor according to their risk profile and financial goals. Happy investing.