JCI Dips as Market Evaluates New OJK Transparency Measures

RRI.CO.ID, Jakarta - Indonesia’s benchmark Jakarta Composite Index (JCI) opened lower on Tuesday, February 3, 2026, as investors continued to assess commitments to improve transparency in the domestic capital market.

The IHSG fell 42.25 points, or 0.53 percent, to 7,880.47, while the LQ45 index of blue-chip stocks rose 2.89 points, or 0.36 percent, to 809.13.

Associate director of research and investment at Pilarmas Investindo Sekuritas, Maximilianus Nico Demus, said technical analysis showed the IHSG could face limited downside, with support and resistance levels at 7,790 and 8,270, respectively.

From the domestic side, Nico said measures taken by the Financial Services Authority (OJK), the Indonesia Stock Exchange (IDX), and the Indonesian Central Securities Depository (KSEI) could positively impact the capital market, particularly by strengthening credibility and global investor confidence.

He said lowering the share ownership disclosure threshold above 1 percent and requiring disclosure of beneficial owners would improve transparency and reduce concerns about hidden ownership, a longstanding issue for MSCI.

“Improved investor classification also provides better visibility of market structure, supporting more accurate risk and liquidity assessments,” Nico said on Tuesday, as reported by Antara.

Nico added that the planned gradual increase in the minimum free float to 15 percent could deepen liquidity and broaden the investor base, although it may lead to adjustments for certain listed companies in the short term.

Overall, he said, consistent and timely implementation of these policies could improve MSCI’s perception of Indonesia and encourage medium- to long-term foreign capital inflows. “At present, we need short-term policies to stem the massive selling pressure,” Nico said.

From overseas, US ISM Manufacturing data rose from 47.9 to 52.6, marking its fastest pace since 2022, supported by solid growth in new orders and production.

In Europe, the European Central Bank and the Bank of England are scheduled to announce monetary policy decisions this week.

On Monday, Wall Street closed higher, with the Dow Jones Industrial Average rising 515.19 points, or 1.05 percent, to 49,407.66. The S&P 500 gained 0.54 percent to 6,976.44, while the Nasdaq Composite advanced 0.56 percent to 23,592.11.

Asian markets also strengthened on Tuesday morning, with Japan’s Nikkei climbing 1,644.60 points, or 3.12 percent, to 54,299.80. China’s Shanghai Composite rose 18.20 points, or 0.45 percent, to 4,033.99, Hong Kong’s Hang Seng gained 44.08 points, or 0.16 percent, to 26,819.66, and Singapore’s Straits Times added 44.70 points, or 0.91 percent, to 4,936.83. ***