JCI Seen Sideways as Investors Eye Fiscal Policy Continuity

RRI.CO.ID, Jakarta - The Jakarta Composite Index (JCI) is expected to move sideways during trading on the Indonesia Stock Exchange (IDX) on Tuesday, September 15, 2026.

On Monday, September 14, the index closed slightly lower by 0.10 percent at 6,534.69.

“The JCI even briefly touched a low of 6,371. Therefore, today, from a technical perspective, the JCI is projected to move sideways in the 6,400–6,600 range,” the Phintraco Sekuritas Analyst Team said in Jakarta on Tuesday.

The index’s movement is not particularly sharp, neither rising nor falling significantly. The Phintraco team is also monitoring the swearing‑in of the new Finance Minister, Suahasil Nazara, by President Prabowo Subianto.

“This change in the Finance Minister is expected to strengthen fiscal credibility and discipline, keeping the State Budget deficit safely below the 3 percent threshold,” the team said.

Suahasil is also expected to have a detailed understanding of the budget structure, given his long tenure as Deputy Finance Minister. As a result, the transition in fiscal policy implementation is expected to proceed smoothly.

“Investors are looking to the new minister for fiscal credibility and consistency. This would help restore confidence among domestic and global investors in Indonesia’s macroeconomy and financial markets,” the Phintraco team added.

If investor confidence improves, foreign capital inflows could strengthen the rupiah. Yields on Government Securities (SBNs) and the JCI are also expected to stabilize.

“For the stock market, the short‑term impact of the Finance Minister’s replacement is expected to be somewhat volatile. In the long term, however, investors are awaiting the implementation of policies by the new minister,” the Phintraco team concluded.

In the United States, Wall Street indices also declined on Monday as market participants awaited the Federal Reserve’s interest rate decision, which is projected to increase this month. (Gusti Panji)