Reasons Behind the Sudden 1% Surge in the JCI This Morning
Jakarta, CNBC Indonesia — The Composite Stock Price Index (JCI) soared more than 1% this morning, on Monday (27/4/2026). However, in the first 35 minutes of trading, the index still moved with high volatility, ranging between 7,126.79–7,230.03.
At 09:36 WIB, the JCI trimmed its correction with a 0.18% gain and even briefly touched the red zone.
Most stocks were in the green zone, with notably high trading values reaching Rp4 trillion. A total of 8.39 billion shares changed hands in 527,300 transactions.
Based on market data, shares of major banks recorded the largest transaction values. BBCA led with a total of Rp1.15 trillion. However, shares of this Djarum group issuer fell and briefly touched 5,975, down more than 1%.
Quoting Refinitiv, commodity stocks were the reason behind the JCI’s flight of more than 1% this morning. Merdeka Gold Resources (EMAS), which rose 5%, contributed 7.7 points.
Then Amman Mineral (AMMN) and Bumi Resources Minerals (BRMS) each contributed 7.59 points and 7.5 points.
Several shares of issuers owned by Prajogo Pangestu also experienced price surges after being pressured by investor selling last week. Barito Pacific (BRPT) and Chandra Asri (TPIA) even jointly entered the list of top movers this morning.
The JCI’s movement this morning is in line with the majority of exchanges in the region.
Japan’s Nikkei 225 index rose 0.53% to a record high, while South Korea’s Kospi index jumped 1% and also hit a record high.
However, the Australian exchange, the S&P/ASX 200 index, fell 0.54%.
Meanwhile, the Hang Seng Hong Kong futures contract was at 26,041, compared to the index’s last close at 25,978.07.
Quoting CNBC International, market sentiment remains stable despite diminishing market hopes for a breakthrough in US-Iran diplomacy.
US President Donald Trump cancelled plans to send US envoys Steve Witkoff and Jared Kushner to Islamabad, Pakistan, last Saturday for negotiations with Iran.
“Too much time wasted on travel, too much work! Besides, there is great internal disagreement and confusion in their ‘leadership’,” Trump wrote in a post on Truth Social, quoted on Monday (27/4/2026).
Oil prices jumped around 2% after plans for the second round of US-Iran peace negotiations hit another deadlock.
The Brent crude futures contract, the international benchmark, rose more than 2% to US$107.49 per barrel at 19:35 ET, while US crude also surged 1.79% to US$96.19.
Tensions in the Strait of Hormuz remain high after Iran’s Revolutionary Guard forces were reported to have boarded two cargo ships near the strategic sea lane.
The Indonesian financial markets this week will only operate for four days, Monday to Thursday, due to Labour Day holiday on 1 May or this coming Friday.
The main focus of the market this week is on the latest developments in US-Iran negotiations, the Federal Reserve’s interest rate decision, the release of US PCE inflation data, US and China manufacturing data, and the Bank of Japan’s (BOJ) interest rate decision.
Markets expect the Fed to hold its benchmark interest rate in the 3.50%-3.75% range. This expectation arises because US inflation is still above target, while the surge in energy prices due to Middle East conflicts makes it difficult for the US central bank to move too quickly to ease policy.
This Fed decision will be very important for global markets. If the Fed signals it will hold rates longer, the US dollar could remain strong. This condition could again pressure Asian currencies, including the rupiah.
Conversely, if the Fed’s statement begins to sound softer by considering the risks of economic slowdown, the market could read it as an opportunity for rate cuts in the following semester. This scenario could provide room for strengthening bonds and risk assets, including stocks in emerging markets.