JCI Opens Stronger at 5,344, Faces Technical Weakness: Expert

RRI.CO.ID, Jakarta - The Jakarta Composite Index (JCI) on the Indonesia Stock Exchange (IDX) rose at the opening of trading on Tuesday, June 9, 2026, starting the session in positive territory at 5,344.68.

The index gained 2.68 points, or 0.05 percent, compared to 5,342 at the close of trading on Monday, June 8. The modest increase followed a previous decline amid significant market pressure.

The earlier drop was accompanied by a foreign net sell of IDR 587 billion (USD 32.27 million). At the same time, the rupiah continued to weaken, reaching IDR 18,188 per US dollar.

Phintraco Sekuritas analysts forecast that the index could test the next support level around 5,100. “Therefore, the potential for further JCI declines remains technically open,” the firm stated.

The market also reacted negatively to Bank Indonesia’s report on foreign exchange reserves. Reserves at the end of May 2026 stood at USD 144.9 billion, down from USD 146.2 billion in April, marking the lowest level since June 2024.

“This decline is primarily due to government foreign debt payments and BI’s efforts to stabilize the rupiah,” Phintraco noted.

Despite the drop, reserves remain above the international adequacy standard, equivalent to three months of import financing. “However, a continuous decline in forex reserves could undermine investor confidence and affect credit ratings,” the analysts warned.

Phintraco advised the government to strengthen investor confidence in the domestic financial market by boosting exports, reducing imports, and encouraging foreign investment. (Gusti Panji)