Jakarta Stocks Advance Midday Despite Protest Concerns
Jakarta. Indonesia’s benchmark stock index stayed firmly in positive territory by midday Thursday despite mass protests in Jakarta, while the rupiah came under renewed pressure as investors weighed domestic political risks and the direction of Bank Indonesia’s policy.
Jakarta Composite Index rose 44.59 points, or 0.7 percent, to 6,450 in the first trading session on Thursday. The index moved between 6,376 and 6,456 during the session.
A total of 18.22 billion shares changed hands in 1,059,206 transactions, with a trading value of Rp 6.38 trillion ($638.96 million). Gainers outnumbered decliners, with 466 stocks rising, 145 falling, and 169 unchanged.
Pilarmas Sekuritas Investindo said investors remained cautious over demonstrations taking place in Jakarta, where protesters are among those demanding that parliament pass the Asset Forfeiture Bill to strengthen Indonesia’s fight against corruption.
“The market hopes that the demonstrations will remain peaceful and will not disrupt economic activity or financial market stability,” Pilarmas said.
While stocks advanced, the rupiah reversed course and weakened against the US dollar amid market attention on the protests and Bank Indonesia’s policy outlook.
Bloomberg data showed the rupiah weakening by 37 points, or 0.21 percent, to Rp 17,762 per dollar at 11:05 a.m. Jakarta time. The dollar index, meanwhile, edged down 0.02 percent to 99.14.
On Wednesday, the rupiah had closed slightly weaker, slipping 2 points, or 0.01 percent, to Rp 17,725 per dollar.
Bank Woori Saudara analyst Rully Nova said the rupiah could remain under pressure throughout Thursday’s trading, projecting a range of Rp 17,720 to Rp 17,800 per dollar.
“The rupiah’s movement is being driven more by domestic sentiment, particularly today’s demonstrations and the direction of Bank Indonesia’s policy under its new Board of Governors,” Rully said.
As of midday trading, the demonstrations had remained orderly, allowing market activity to continue without disruption.
Tags: Keywords:
as a preferred
Related Articles
MSCI Concerns, Tighter IDX Trading Rules Send Indonesian Stocks Down 5% by Midday
Indonesian stocks plunge 5% by midday as MSCI concerns weigh on sentiment and the IDX tightens its daily downside limit to 7%.
Indonesian Bank Stocks Hit Pandemic-Era Valuations After MSCI Shock
Indonesian bank stocks hit crisis-era lows as MSCI's downgrade proposal sparks a selloff and fuels fears of foreign outflows.
Indonesian Stocks Sink Toward 4,900 as MSCI Threat, $110 Oil Bite
Indonesian stocks plunged 4.31% to a 2026 low near 4,900 as MSCI downgrade fears and oil prices topping $110 per barrel.
Black Week for Indonesia Stocks Exchange as Market Loses $85 Billion
Indonesia’s stocks plunged 14.91% in a week, wiping out $94 billion in market value as MSCI weighs a downgrade to standalone status.
Indonesia Fines DSSA, BREN and CUAN Rp 2.1 Trillion for Market Violations
OJK fines DSSA, BREN and CUAN Rp 2.1 trillion over stock manipulation and alleged irregularities in share offerings.
Rupiah Buckles Under MSCI Pressure, Sinks Past Rp 18,000
Rupiah fell 0.50% to Rp 18,027 per dollar as MSCI’s proposed downgrade of Indonesia’s market status rattled investor confidence.
Indonesian Stocks End at 2026 Low After Losing 11.57% on MSCI Warning
Indonesian stocks lost 11.57% to hit a new 2026 low as MSCI's reclassification warning rattled investor confidence.
MSCI Concerns Put Indonesia’s Market Reforms to the Test
MSCI’s concerns over ownership transparency and market enforcement put Indonesia’s stock-market reforms under scrutiny.
Indonesia Could Join Zimbabwe, Palestine in MSCI Standalone Market Downgrade
Indonesia risks joining Zimbabwe and Palestine in MSCI’s Standalone Market category, threatening foreign fund flows.
MSCI Warning Raises Existential Questions for Indonesia's Stock Market, Economist Says
MSCI's downgrade threat tests Indonesia's market credibility, with an economist urging reforms to restore investor trust.The Latest
Jakarta Outranks Amsterdam in Global Public Transport Survey
Jakarta climbs two places to 15th in Time Out's 2026 public transport survey, with its governor citing better network integration.
MSCI Concerns, Tighter IDX Trading Rules Send Indonesian Stocks Down 5% by Midday
Indonesian stocks plunge 5% by midday as MSCI concerns weigh on sentiment and the IDX tightens its daily downside limit to 7%.
Jakarta Prepares 367 Health Facilities as Haze Reaches the Capital
Jakarta prepares 367 health facilities to treat potential haze-related illnesses after smoke from Sumatra and Kalimantan crosses the region.
Jakarta Expands Flood Prevention With New Water Storage Ponds
Jakarta opens two East Jakarta water storage ponds as it expands flood prevention efforts through reservoirs and river normalization.
Press Council Highlights AI Ethics at United Tractors Journalist Workshop
United Tractors’ 2026 journalist workshop highlights ethical AI use and the importance of trust and credibility in journalism.Most Popular
