JCI Tested by MSCI, Check Stocks with Profit Potential

Jakarta, CNBC Indonesia — The Jakarta Composite Index (JCI) closed with a correction of 0.92% at the level of 6,905.62 during trading on Monday (11/5). The index’s weakening occurred amid selling actions by foreign investors and market concerns regarding the results of the MSCI index evaluation scheduled to be announced today.

MORA shares became one of the main drivers of market strengthening after surging 20.00%, followed by BYAN which rose 5.80% and ASII which strengthened 3.86%. On the other hand, the biggest pressure came from BMRI shares which fell 8.21%, DSSA which weakened 13.36%, and BREN which corrected 7.56%.

Foreign investors recorded net selling worth Rp659.16 billion in the regular market and Rp751.15 billion across the entire market. Sector-wise, 10 out of 11 sectors ended in the red zone, with the transportation sector recording the deepest decline of 2.88%, while the infrastructure sector was the only one to strengthen by 1.52%.

From the global market, major US stock indices closed higher. The Dow Jones rose 0.19% to 49,704, the S&P 500 added 0.19% to 7,412, and the Nasdaq strengthened 0.10% to 26,274.

Market participants are also monitoring the potential exit of BREN and DSSA shares from the MSCI index due to high shareholding concentration (HSC). Market pressure is expected to continue in line with the weakening of the EIDO ETF by 1.75% and the MSCI Indonesia by 2.11%.

Meanwhile, RATU through its subsidiary PT Raharja Energi Negeri (REN) has officially acquired a 5% participating interest in the Kasuri Block Working Area in West Papua from Genting Oil Kasuri Pte Ltd. The transaction value reaches US$9.64 million or approximately Rp165 billion.

The Kasuri Block covers the Asap, Merah, and Kido fields with gas reserves of 2.67 trillion cubic feet (tcf). The working area is planned to produce gas at 230 million cubic feet per day (mmcfd) for 18 years, with the PSC contract valid until 2038. The company states that the transaction value is still below the material transaction limit according to regulator provisions, so it does not require GMS approval.

In another sector, KKGI announced plans for business diversification by adding several new KBLI codes related to warehousing, accommodation, tourism areas, and tourism information services. The company estimates that the additional business lines can support revenue and profit growth in the coming years.

Meanwhile, BJTM or Bank Jatim has set a cash dividend for the 2025 book year at Rp56.62 per share with a total value of Rp850.17 billion. This value is equivalent to a dividend payout ratio of 55.01% of the profit attributed to the parent entity’s owners.

BJTM’s performance throughout 2025 also showed positive growth. Interest and sharia income rose 22.79% to Rp10.29 trillion, while net profit grew 24.79% to Rp1.62 trillion.

In the latest trading, BJTM shares closed at Rp595 per share, reflecting a dividend yield of around 9.52%. The dividend cum date is scheduled for 18 May, and dividend payment will be made on 5 June.