JCI Extends Losses to 7,091, Down 0.08% as Middle East Risks Intensify
Jakarta. Jakarta Composite Index (JCI) extended its decline on Monday, closing marginally lower as intensifying geopolitical tensions in the Middle East continued to weigh on sentiment and raise concerns over global energy supply.
The benchmark index slipped 0.08%, or 5 points, to 7,091, after moving within a range of 6,945–7,104. Trading activity remained active, with 25.06 billion shares changing hands and turnover reaching Rp 14.93 trillion ($877.91 million) across more than 1.66 million transactions. Decliners outpaced gainers, with 403 stocks falling, 272 advancing, and 149 unchanged.
Top gainers were led by Equity Development Investment (GSMF), which surged 34.44%, followed by Nusantara Almazia (NZIA) rising 34.02%, Kian Santang Muliatama (RGAS) gaining 29.41%, and Samator Indo Gas (AGII) climbing 17.65%.
On the losing side, Sat Nusapersada (PTSN) dropped 14.81%, Fortune Mate Indonesia (FMII) fell 14.49%, Hotel Fitra International (FITT) declined 14.38%, and Buana Finance (BBLD) slipped 10.34%.
Pilarmas Investindo Sekuritas said the JCI remained under pressure as global sentiment deteriorated amid escalating conflict in the Middle East, which has heightened market concerns over energy supply disruptions.
The brokerage noted that the index’s weakness was in line with most Asian markets, which traded in negative territory as geopolitical risks intensified.
“The situation escalated further after US President Donald Trump warned of potential aggressive measures against Iran, including the possibility of seizing oil assets on Kharg Island,” Pilarmas wrote in its research on Monday.
According to Pilarmas, tensions have also been exacerbated by Iran-aligned Houthi militants launching missile attacks toward Israel, opening a new front in the conflict and increasing risks to global energy distribution routes.
The United States has also strengthened its military presence in the region, raising concerns over a broader and prolonged conflict. Markets fear disruptions to oil distribution, including from strategic routes such as Yanbu, could further tighten global energy supply.
Domestically, pressure is also coming from a softer economic outlook. The Organisation for Economic Co-operation and Development (OECD) recently revised down Indonesia’s growth forecast to 4.8% for 2026 and 5% for 2027.
The figures are lower than its previous projections of 5% growth in 2026 and 5.1% in 2027. “This downward revision reflects rising global uncertainty, particularly due to prolonged geopolitical conflicts,” Pilarmas said.
Across Asia, markets mostly declined on Monday as concerns over surging oil prices and further escalation in the US-Iran conflict persisted, although European shares posted moderate gains.
Japan’s Nikkei 225 fell 2.8% to 51,885, while South Korea’s Kospi dropped 3.0% to 5,277. Hong Kong’s Hang Seng slipped 0.8% to 24,750, while China’s Shanghai Composite reversed earlier losses to edge up 0.2% to 3,923.
Investors in Japan and across Asia remain concerned about limited access to the Strait of Hormuz amid the conflict, a critical route for oil shipments to the region.
Market participants are increasingly bracing for a prolonged conflict, which could fuel global inflation and weigh on Asia’s economic growth.
“Although we do not expect the conflict to be protracted, we anticipate heightened volatility in the near term,” said Xavier Lee, senior equity analyst at Morningstar Research.
Oil prices resumed their climb after briefly easing when President Donald Trump extended a self-imposed deadline to “obliterate” Iran’s power plants to April 6.
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