JCI Weakens as Investors Cautiously Monitor Tensions in the Middle East

Jakarta (ANTARA) - The Composite Stock Price Index (JCI) of the Indonesia Stock Exchange (BEI) closed weaker on Monday afternoon as market participants adopted a cautious stance in monitoring developments in the Middle East conflict between the United States (US) and Iran. The JCI closed down 37.35 points or 0.53 percent at 6,989.43. Meanwhile, the LQ45 index of 45 leading stocks fell 6.82 points or 0.95 percent to 707.76. “Asian markets moved in mixed directions as investors began to act cautiously towards developments in the Middle East,” said Associate Director of Research and Investment at Pilarmas Investindo Sekuritas, Maximilianus Nico Demus, alias Nico, in his analysis in Jakarta on Monday. From the continuation of the conflict in the Middle East region, the United States (US), Iran, and several regional mediators are reportedly negotiating terms for a potential 45-day ceasefire, which could pave the way for a more permanent resolution to the conflict. These developments occurred after US President Donald Trump set a new deadline for Iran and escalated threats against power plants and other civilian infrastructure if the Strait of Hormuz is not reopened. Government revenue was supported by tax receipts of Rp394.8 trillion, up 20.7 percent. Meanwhile, customs and excise receipts were recorded at Rp67.9 trillion, down 12.6 percent, while non-tax state revenue (PNBP) stood at Rp112.1 trillion, also declining by 3 percent. Total government spending consisted of central government expenditure of Rp610.3 trillion, which increased significantly by 47.7 percent, and transfers to regions of Rp204.8 trillion, which slightly decreased by 1.1 percent. On the other hand, market participants are monitoring news that a unit of the sovereign wealth fund Danantara signed an agreement on 1 April 2026 to acquire the investment management units of state-owned banks, namely Bank Mandiri, BRI, and BNI, as well as PT Permodalan Nasional Madani, for a value of Rp2.7 trillion, which is still awaiting approval.