Jakarta. Jakarta Composite Index (JCI) tumbled 243.38 points, or 2.94 percent, to 8,028.33 at midday trading on Monday, dragged down by heavy selling pressure amid a wave of negative domestic sentiment, according to Pilarmas Investindo Sekuritas.

Trading volume reached 24.13 billion shares, with a total transaction value of Rp 17.79 trillion ($1.07 billion) and 1.93 million trades recorded. A total of 150 stocks advanced, 550 declined, and 107 remained unchanged.

All sectoral indices finished lower at the end of the first session. Property shares led the losses, plunging 4.53 percent, followed by energy at 4.45 percent, industrials at 3.76 percent, infrastructure at 3.03 percent, and non-primary consumer goods at 2.86 percent.

Pilarmas Investindo said the market was weighed by persistent capital outflow risks after Bank Indonesia reported that foreign investors pulled out Rp 940 billion from the domestic financial market between October 20 and 23.

The brokerage also noted that weakness in major blue-chip and conglomerate stocks deepened the index’s decline, as investors reacted to methodology changes in the Morgan Stanley Capital International (MSCI) Index’s constituent review, specifically the revised calculation of free float adjustments for Indonesia.

“This adjustment could potentially trigger further outflows from the MSCI Indonesia Index,” Pilarmas said in a note on Monday.

The JCI fell sharply even as most Asian markets traded higher, buoyed by optimism that the United States and China were nearing a trade agreement ahead of the Trump–Xi meeting in South Korea later this week. During the first session, regional indexes moved higher with Hong Kong’s Hang Seng up 0.59 percent, Japan’s Nikkei rising 1.5 percent, and China’s Shanghai Composite gaining 0.42 percent.

Among the session’s top gainers were Raja Roti Cemerlang (BRRC), which gained 34.8 percent, Sunson Textile Manufacturer (SSTM) up 25 percent, Multi Indocitra (MICE) also up 25 percent, and Superkrane Mitra Utama (SKRN) rising 24.7 percent.

Meanwhile, notable laggards included Impack Pratama Industri (IMPC), which dropped 15 percent, Pradiksi Gunatama (PGUN) down 15 percent, while Jaya Sukses Makmur Sentosa (RISE) and Supra Boga Lestari (RANC) both slipped 14.9 percent.

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