JCI Opens Weakened due to 'Wait-and-See' Investors' Stance

RRI.CO.ID, Jakarta - The Jakarta Composite Index (JCI) on the Indonesia Stock Exchange (IDX) opened lower on Tuesday, May 5, 2026. At the start of the first session, the JCI stood at 6,968.57, down 3.39 points (0.05 percent) from the previous close.

On Monday, May 4, the JCI closed higher at 6,971.95, up 15.14 points (0.22 percent). At that time, 327 stocks rose, 357 fell, and 134 remained unchanged.

Market participants are currently adopting a cautious, wait‑and‑see stance toward global and domestic developments, suggesting that the JCI’s movement will remain limited within a certain range.

Phintraco Sekuritas analysts noted that the index has the potential to consolidate between 6,900 and 7,100.

Domestically, pressure stems from weakening manufacturing performance. Indonesia’s manufacturing PMI for April 2026 fell to 49.1 from 50.1 previously, the lowest level since June 2025. The decline is reportedly influenced by the prolonged conflict in the Middle East.

Indonesia’s trade surplus in March 2026 stood at USD 3.32 billion, down from USD 4.33 billion in the same period last year. The drop was driven by a 3.1 percent fall in exports, while imports rose 1.51 percent. However, the March surplus was higher than February’s USD 1.28 billion.

Annual inflation in April 2026 stood at 2.4 percent, the lowest since August 2025, driven by declines in food and housing prices.

Investors are also awaiting the release of first‑quarter 2026 economic growth data from the Central Bureau of Statistics (BPS). Phintraco estimates that growth contracted by 0.7 percent compared with the previous quarter.

Externally, renewed tensions between the United States and Iran have driven up global oil prices, adding pressure to global stock markets.

Meanwhile, the domestic market is overshadowed by foreign investor sell‑offs, which reached IDR 791.28 billion. Shares of BMRI, GOTO, BBCA, BUMI, and BMRS were the most heavily sold, adding pressure on the rupiah, which continues to weaken. (Gusti Panji/Lasti Martina)