Reasons Behind the Sudden 2% Drop in the JCI
Jakarta, CNBC Indonesia — The Jakarta Composite Index (JCI) suddenly fell by 2% in today’s second trading session, Thursday (26/2/2026).
A total of 642 shares fell, 196 shares remained unchanged, and only 124 shares experienced an increase. Trading volume was recorded at 36.06 billion shares, with a transaction frequency of 2.42 million, worth IDR 20.44 trillion.
The JCI experienced a correction amid widespread selling pressure on a number of large-cap stocks. The decline in the index was triggered by a combination of external sentiment and profit-taking by investors after the rally in recent days.
As is known, at the beginning of the week the JCI had risen 1.5% and yesterday it rose 0.5%.
From a global perspective, market participants are still monitoring economic uncertainty and geopolitical developments.
Domestically, the biggest pressure came from big-cap stocks that have a large weight on the index. Weakness in the banking and commodity sectors became the main contributors to the JCI correction this afternoon.
Quoting Refinitiv, Bank Central Asia (BBCA), which fell 1.74%, was the biggest burden on the JCI, namely -9.48 index points.
Then Merdeka Copper Gold (MDKA) contributed -6.82 index points and experienced a correction of more than 7%. In addition to MDKA, other commodity stocks also burdened the index. Amman Mineral (AMMN) lowered the JCI by -4.55 index points and Dian Swastatika Sentosa (DSSA) by -3.98 index points.
In addition to BBCA, other large bank shares were also included in the top 10 laggards of the JCI this afternoon. Bank Rakyat Indonesia (BBRI) and Bank Mandiri (BMRI) burdened the JCI, each by -6.29 index points and -5.82 index points.
Meanwhile, on Thursday’s trading, the Indonesian financial market has the potential to move more sensitively because it is overshadowed by a series of sentiments, especially from the United States.
US President Donald Trump delivered his State of the Union 2026 address before the US Congress on Tuesday evening local time or Wednesday morning, February 25, 2026, Indonesian time.
In the nearly two-hour speech, Trump showcased the achievements of his second term, starting with claims of tighter borders, declining inflation, strengthening stock markets, boosting energy production, to tax and tariff policies. At the same time, he reaffirmed the narrative that America is entering a golden age ahead of the 250th anniversary of independence on July 4, 2026.
Trump also stated that his administration would not allow Iran to have nuclear weapons, while calling Tehran the world’s largest sponsor of terrorism.
This statement came amid increased deployment of US military forces in the Middle East. However, Trump is considered to have not explained in detail to the American public about the reasons and limitations of the steps that can be taken, even though the situation has the potential to lead to the largest escalation against Iran since the 1979 Revolution.