JCI Strengthens Following Asian Markets Amid Global Oil Price Correction

The Jakarta Composite Index (JCI) and regional Asian markets moved higher, supported by the easing of conflict tensions and strains in the Middle East. Jakarta (ANTARA) - The Composite Stock Price Index (JCI) of the Indonesia Stock Exchange (BEI) closed up on Wednesday afternoon, following the strengthening of Asian regional markets amid a correction in crude oil prices due to the easing of tensions between the United States (US) and Iran. The JCI closed stronger by 35.36 points or 0.50 percent to 7,092.47. Meanwhile, the LQ45 index of 45 leading stocks rose 1.18 points or 0.17 percent to 682.76. “The JCI and regional Asian markets moved higher, supported by the easing of conflict tensions and strains in the Middle East,” said Maximilianus Nico Demus, alias Nico, Associate Director of Research and Investment at Pilarmas Investindo Sekuritas, in his analysis in Jakarta on Wednesday. From overseas, positive sentiment came from the correction in global crude oil prices, with WTI oil falling 8.86 percent to US$93.21 per barrel, while Brent oil fell 7.75 percent to US$101.36 per barrel in trading at 5:00 PM WIB today. US President Donald Trump stated that the US would temporarily halt its efforts to assist stranded ships exiting the Strait of Hormuz to allow renewed talks with Iran. Market participants view this as a signal from Trump of progress towards a potential agreement with Iran, as well as a temporary pause in US-led maritime operations in the Strait of Hormuz to support diplomacy. Furthermore, Trump said he plans to discuss the Iran situation with Chinese President Xi Jinping during the summit meeting on 14-15 May 2026, as an effort to help ease broader geopolitical risks. Domestically, Bank Indonesia Governor Perry Warjiyo outlined strategies to maintain rupiah exchange rate stability, including market interventions, liquidity strengthening, and tightening foreign exchange (forex) purchases. The rupiah exchange rate strengthened by 37 points or 0.21 percent to Rp17,387 per US dollar at Wednesday’s (06/05) close, from the previous close at Rp17,424 per US dollar. Opening higher, the JCI remained in positive territory until the end of the first trading session. In the second session, the JCI stayed in the green zone until the close. Based on the IDX-IC Sectoral Index, eight sectors strengthened, led by transportation and logistics, which rose 2.02 percent, followed by the basic materials sector and primary consumer goods sector, which rose 1.67 percent and 1.28 percent, respectively. Meanwhile, three sectors weakened, with the financial sector declining the most at 0.90 percent, followed by the healthcare sector and energy sector, which fell 0.65 percent and 0.31 percent, respectively. The stocks experiencing the largest gains were DEFI, RICY, PYFA, ABDA, and HALO. Meanwhile, the stocks with the largest declines were YPAS, BOBA, PIPA, ASLI, and CASA. Share trading frequency was recorded at 2,479,250 transactions, with 37.07 billion shares traded worth Rp17.71 trillion. 341 stocks rose, 290 fell, and 186 remained unchanged. Asian regional stock markets this afternoon included the Nikkei Index strengthening 228.20 points or 0.38 percent to 59,513.12, the Shanghai Index up 48.01 or 1.17 percent to 4,160.17, the Hang Seng Index up 315.17 points or 1.22 percent to 26,213.78, and the Straits Times Index up 6.77 points or 0.14 percent to 4,927.38.