JCI Suddenly Slumps by More Than 1%: Here’s Why
Jakarta, CNBC Indonesia – The Jakarta Composite Index (JCI) weakened again in morning Session I trading. At 9.58am Jakarta time, it stood at 5,368.64, down 70.62 points, or 1.30%. The index later touched an intraday low of 5,349.75.
The JCI had opened at 5,442.30, up 3.04 points, or around 0.06%, from the previous session’s close of 5,439.26.
Trading volume totalled 126.06 million lots, with transactions worth Rp4.82 trillion.
The decline was led by the healthcare sector, which fell 1.7%, followed by technology, down 1.5%, and infrastructure, which weakened by 1.3%.
The stocks weighing on the index included PT Bank Central Asia Tbk (BBCA), PT Bayan Resources Tbk (BYAN), PT Mora Telematika Indonesia Tbk (MORA), PT Bank Mandiri (Persero) Tbk (BMRI) and PT Telkom Indonesia (Persero) Tbk (TLKM).
Among the stocks supporting the JCI were PT Chandra Asri Pacific Tbk (TPIA), PT Bukit Uluwu Villa Tbk (BUVA), PT Semen Indonesia (Persero) Tbk (SMGR), PT Sumber Alfaria Trijaya Tbk (AMRT) and PT Petrindo Jaya Kreasi Tbk (CUAN).
Global and Indonesian financial markets face a busy week. Developments in the war remain a key market driver, alongside a series of major events, including central-bank decisions that could move equities, bonds, foreign exchange and commodities.
Seven central banks are scheduled to announce monetary policy decisions this week: the State Bank of Pakistan on 26 October; the US Federal Reserve, Bank of Canada, Reserve Bank of New Zealand and Bank of Thailand on 28 October; the European Central Bank (ECB) on 29 October; and the Bank of Japan (BOJ) on 30 October.
Investors will also monitor US and eurozone growth data, as well as US PCE inflation, one of the Federal Reserve’s key indicators in setting monetary policy.
The following economic events are among those markets should watch this week.
- Chinese Communist Party meeting
The Communist Party’s Fifth Plenum, a meeting of the Communist Party of China Central Committee, is an important gathering to discuss the country’s political direction and strategic policies.
The party will discuss the direction of economic, industrial and technology policy, as well as national development over the coming years.
Scheduled for 26–29 October 2026, the meeting is in focus because it could signal the consolidation of President Xi Jinping’s power, a stronger anti-corruption drive and the government’s priorities ahead of 2027.
For global investors, its outcomes will be important in gauging policy certainty, the business climate and China’s economic outlook, with implications for equities, the yuan, commodity prices and trading partners such as Indonesia.
- China’s industrial profits in September 2026
China will release industrial profit data for January to September on Tuesday, 27 October, at 8.30am Jakarta time. For comparison, industrial profits grew 15.7% year on year in January–August, slowing from 17.6% in January–July. A further slowdown could weigh on the outlook for commodity demand, while stronger profits could signal improving industrial activity and investment.
- The Federal Reserve’s October 2026 interest-rate decision
The Federal Reserve is scheduled to announce its rate decision on Wednesday US time, or Thursday, 29 October, at 1am Jakarta time, followed by a press conference at 1.30am.
Market consensus expects the US central bank to hold rates at 3.75%–4.00%, after raising them by 25 basis points in September.
Although rates are expected to remain unchanged, investors will focus on Federal Reserve Chair Kevin Warsh’s comments on the inflation outlook, labour-market conditions and the possibility of further policy tightening.
A more hawkish stance could strengthen the US dollar and weigh on risk assets, including emerging-market equities. Conversely, signals that inflationary pressures are easing could give markets scope to reassess the US monetary policy outlook.
For Indonesia, the Federal Reserve’s policy direction is an important factor affecting the rupiah, foreign capital flows and the appeal of government bonds (SBN).
- US third-quarter 2026 economic growth
The first estimate of US third-quarter GDP will be released on Thursday, 29 October, at 7.30pm Jakarta time.
The US economy is expected to grow by 3.2% quarter on quarter at an annualised rate, up from 2.2% in the previous quarter. Stronger growth could reinforce perceptions of US economic resilience, but if accompanied by high inflation it could strengthen expectations that interest rates will remain elevated for longer.
- US Personal Consumption Expenditures inflation
The US will also release September Personal Consumption Expenditures (PCE) inflation data on Thursday, 29 October, at 7.30pm Jakarta time.
In August 2026, PCE inflation stood at 3.4% year on year, while core inflation was 3.0%.
Core PCE inflation, which excludes food and energy, is expected to rise by 0.3% month on month in September 2026, from 0.2% in August. On an annual basis, core inflation is projected to increase to 3.1% from 3.0%.
The data matter because PCE is one of the main inflation measures used by the Federal Reserve in setting monetary policy.
If inflation exceeds expectations, concerns that price pressures remain difficult to control could intensify, potentially reinforcing expectations that interest rates will stay high for longer.
Conversely, lower inflation could ease pressure on markets, although a sustained decline would be needed before the monetary policy outlook changed significantly.
- The ECB’s October 2026 interest-rate decision
The ECB is scheduled to announce its rate decision on Thursday, 29 October, at 8.15pm Jakarta time, with a press conference at 8.45pm.
Consensus forecasts put the main refinancing rate at 2.65%, while the deposit facility rate is expected to remain at 2.50%.
Investors will watch how the ECB balances inflation risks against slowing economic growth in Europe. Energy price pressures and uncertainty over growth are important factors in determining the next policy steps.
- The BOJ’s October 2026 interest-rate decision
The BOJ is scheduled to announce its rate decision on Friday, 30 October, although the timing may change in line with the central bank’s official schedule.
Consensus expects the BOJ to hold its rate at 1.25%, following an increase from 1.00% in September.
Alongside the rate decision, markets will examine the economic and price outlook report, including changes to growth and inflation forecasts and assessments of wage and consumption trends.
- Eurozone third-quarter 2026 economic growth
The eurozone’s preliminary GDP estimate will be released on Friday, 30 October, at 5pm Jakarta time.
The economy is expected to grow by 0.2% quarter on quarter, slowing from 0.6% in the previous quarter.
Annual growth is projected at 1.1%, down from 1.2%. A sharper slowdown could heighten concerns about the region’s economy and become an important consideration for the ECB’s policy direction.