Jakarta. Jakarta Composite Index (JCI) snapped its rally after briefly touching the 9,000 level, retreating sharply on Monday amid broad-based selling pressure.

The benchmark index closed at 8,884, down 52 points or 0.58%, after moving within a wide 8,715–9,000 intraday range.

Trading activity remained heavy. Total volume reached 74.39 billion shares, with a turnover of Rp 30.99 trillion ($2.37 billion) across more than 5 million transactions. Decliners outnumbered gainers, with 435 stocks falling, 279 rising, and 97 unchanged.

On the gainers’ board, MNC Sky Vision (MSKY) surged 34.88%, followed by Cipta Sarana Medika (DKHH), which jumped 30.34%. Multi Garam Utama (FOLK) and MNC Tourism Indonesia (KPIG) each advanced 25%.

Losses were led by Solusi Kemasan Digital (PACK), which plunged 91.71%. Habco Trans Maritima (HATM) slid 14.68%, Metro Healthcare Indonesia (CARE) fell 14.56%, and Bumi Benowo (BBSS) dropped 14.40%.

BRI Danareksa Sekuritas (BRIDS) noted that the JCI had earlier slumped more than 2%, driven by a combination of three key pressures.

First was a global risk-off mood after renewed threats from the United States against Iran heightened Middle East geopolitical tensions.

“Second, the USD/IDR 2026 outlook potentially above Rp 16,800 has raised concerns over capital outflows and weighed on foreign sentiment in the equity market,” BRIDS said in its Monday note.

Third, selling pressure was broad-based, with most stocks in the red, signaling panic-driven selling rather than a healthy correction.

“After the JCI weakened by around 2%, the technical trend remains bullish. This correction is more about profit-taking, with crucial support at 8,700–8,775, while indicators are easing from overbought levels, suggesting the market still needs consolidation,” the brokerage added.

Across Asia, markets mostly advanced. Hong Kong’s Hang Seng Index rose 1.2% to 26,547.64, while China’s Shanghai Composite Index climbed 1% to 4,163.11 on reports that Chinese leaders were preparing additional economic support.

South Korea’s KOSPI added 0.8% to 4,624, and Australia’s S&P/ASX 200 gained 0.5% to 8,759. Tokyo markets were closed for a holiday, while the U.S. dollar was little changed against the yen at 158.02.

On Wall Street, stocks ended last week at record highs. The S&P 500 rose 0.6% to 6,966, the Dow Jones Industrial Average added 0.5% to 49,504, and the Nasdaq Composite led gains with a 0.8% jump to 23,671, as investors digested mixed U.S. labor market data and ongoing political pressure on the Federal Reserve.

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