JCI Rebounds to 7,500 as Prabowo–Putin Talks Lift Energy Security Outlook
Jakarta. Jakarta Composite Index (JCI) closed higher on Monday, rebounding 0.56% or 42 points to 7,500, after swinging between 7,351 and 7,527 as investors navigated intensifying Middle East tensions while taking cues from President Prabowo Subianto’s oil talks with Russian President Vladimir Putin aimed at strengthening Indonesia’s energy security.
Trading activity remained robust, with volume reaching 42.5 billion shares and turnover totaling Rp 20.4 trillion ($1.19 billion), according to RTI data. Market frequency exceeded 2.5 million transactions, with 397 gainers, 264 decliners, and 156 unchanged stocks.
Top gainers included Bekasi Asri Pemula (BAPA), which jumped 34.12%, followed by Natura City Development (CITY) and Dafam Property Indonesia (DFAM), both surging 34.02%, and Prasidha Aneka Niaga (PSDN), which rose 30%.
On the losing side, Pacific Strategic Financial (APIC) fell 14.70%, Nusantara Voucher Distribution (DIVA) dropped 11.52%, and Shield On Service (SOSS) declined 9.90%, while Optima Prima Metal Sinergi (OPMS) posted a 14.02% increase.
Global sentiment remained fragile as oil prices extended gains and most markets declined after the United States prepared a military blockade targeting Iranian ports and the Strait of Hormuz, one of the world’s most critical oil shipping routes.
Pilarmas Investindo Sekuritas said the JCI’s resilience came despite rising caution among global investors after US-Iran peace talks in Islamabad ended without agreement.
“The failure of negotiations increases the risk of escalation in the Middle East. US President Donald Trump has even announced plans for a blockade of the Strait of Hormuz by the US Navy, while leaving room for further military action against Iran,” Pilarmas wrote in a Monday research note.
“This move has raised concerns over a global energy crisis, considering the Strait of Hormuz is a vital route for global oil distribution. As a result, oil prices surged and the US dollar strengthened as a safe-haven asset,” the firm added.
The planned blockade was set to begin Monday at 10 a.m. EDT (9 p.m. Jakarta time), according to the US military, following the collapse of ceasefire talks.
Oil prices have climbed sharply as shipping through the strait has largely stalled since late February. Brent crude has surged from around $70 per barrel before the conflict to above $119 at times. On Monday, US benchmark crude jumped $7.12 or 7.4% to $103.69 per barrel, while Brent crude rose $7.04 or 7.4% to $102.24.
Domestically, Pilarmas noted that external pressures also weighed on the rupiah. However, the JCI managed to stay in positive territory after earlier losses.
“The JCI’s gains today were supported by government mitigation measures to maintain national economic stability amid global volatility,” Pilarmas said.
A key positive catalyst came from President Prabowo Subianto’s visit to Russia to meet President Vladimir Putin, focusing on securing crude oil supply to strengthen Indonesia’s energy resilience.
Asian markets closed mixed on Monday. Japan’s Nikkei 225 fell 0.7% to 56,502, South Korea’s Kospi dropped 0.9% to 5,808, and Hong Kong’s Hang Seng declined 0.9% to 25,660. China’s Shanghai Composite edged up less than 0.1% to 3,988.
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