Jakarta. Jakarta stocks slipped on Wednesday as a stalled US–Iran peace track and MSCI uncertainty kept risk appetite in check, leaving equities stuck in the red. The Jakarta Composite Index (JCI) closed down 17 points, or 0.24%, at 7,541.

RTI data showed trading volume reached 49.3 billion shares, with turnover of Rp 18 trillion ($1.46 billion) across more than 2.9 million transactions. Market breadth skewed negative, with 440 stocks declining, 240 advancing and 141 unchanged.

Pilarmas Investindo Sekuritas said the decline was primarily driven by rising geopolitical uncertainty in the Middle East, despite efforts to extend a ceasefire.

“Markets are still reacting to developments in the US–Iran conflict, which have yet to show any convincing signs of de-escalation,” Pilarmas wrote in a research note on Wednesday.

The firm added that sentiment worsened after a planned second round of peace talks between the United States and Iran reportedly failed to take place. While US President Donald Trump extended the ceasefire, uncertainty remained high as blockades on Iranian vessels continued.

Tensions escalated further after US Vice President JD Vance canceled a planned visit to Islamabad for negotiations, following reports that Tehran declined to attend follow-up talks via intermediaries in Pakistan.

Pilarmas also noted that Iran has signaled a tougher stance, keeping open the option of closing the Strait of Hormuz as tensions persist, raising concerns over potential disruptions to global energy supply.

Despite the broader decline, several stocks posted strong gains. Black Diamond Resources (COAL) surged 33.96%, DMS Propertindo (KOTA) rose 29.52%, Bank Danamon (BDMN) climbed 25%, and Harapan Duta Pertiwi (HOPE) jumped 24.60%.

On the downside, Kedaung Indah Can (KICI) fell 14.91%, Danasupra Erapacific (DEFI) dropped 14.60%, LCK Global Kedaton (LCKM) declined 10.26%, and Yanaprima Hastpersada (YPAS) slipped 9.80%.

Domestically, investors also monitored MSCI’s delayed assessment of Indonesian equities, which Pilarmas flagged as an additional drag on sentiment.

Attention was also on Bank Indonesia’s policy decision. Pilarmas said markets had expected the central bank to hold rates at 4.75% to support the rupiah amid global pressures while maintaining inflation and growth.

Bank Indonesia kept its benchmark BI-Rate unchanged at 4.75% in April 2026, aiming to strengthen rupiah stability against external shocks.

The central bank also maintained the Deposit Facility rate at 3.75% and the Lending Facility rate at 5.5%, while targeting inflation within a 2.5±1% range for 2026–2027.

“This decision is consistent with efforts to enhance the effectiveness of monetary policy transmission while strengthening rupiah stability amid worsening global conditions due to the Middle East conflict,” Governor Perry Warjiyo said in a virtual press briefing.

The move aligned with projections from the Institute for Economic and Social Research at the University of Indonesia (LPEM FEB UI). Economist Teuku Riefky ранее said that despite easing domestic inflation, global uncertainty has risen sharply due to escalating tensions involving the United States, Israel and Iran.

“Bank Indonesia needs to maintain the BI-Rate at 4.75% while remaining in a wait-and-see stance. The current priority is exchange rate stability and external resilience,” Riefky said.

Across the region, Asian markets were mixed in cautious trading as investors monitored developments in the US–Iran conflict.

Japan’s Nikkei 225 rose 0.4% to 59,585, while South Korea’s Kospi gained 0.5% to 6,417. Hong Kong’s Hang Seng fell 1.2% to 26,180, and China’s Shanghai Composite added 0.5% to 4,106.

On Wall Street overnight, the S&P 500 reversed earlier gains to fall 0.6% to 7,064.01 after Vance canceled his Pakistan trip tied to ceasefire talks. The Dow Jones Industrial Average dropped 0.6% to 49,149, while the Nasdaq Composite also declined 0.6% to 24,259.

Minutes after markets closed, Trump said he would extend the ceasefire to give Iran more time to submit a proposal to end the conflict.

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