Jakarta Composite Index Sinks 7.90% in Post-Idulfitri Selloff, Rebounds Slightly From Early Halt
JAKARTA, investortrust.id – Indonesia’s benchmark stock index, the Jakarta Composite Index (JCI), plunged 7.90% on Tuesday, closing at 5,996.14 in its first trading session after the Idulfitri holiday. The index dropped by as much as 9.19% at the opening bell to 5,912.06, triggering a 30-minute trading halt—the first since the start of the year—before recovering slightly by the close.
The sharp decline followed a global equity selloff that occurred during Indonesia’s extended holiday period. The selloff was sparked by former U.S. President Donald Trump's new reciprocal trade policies, which rattled markets worldwide. While most Asian markets rebounded on Tuesday—Japan’s Nikkei and Hong Kong’s Hang Seng posted gains—Indonesia's market remained under heavy pressure.
The worst-hit sectors included basic materials and technology, both tumbling more than 10%. Industrial, infrastructure, primary consumer goods, and energy stocks also saw losses exceeding 8%. The least affected sector was non-primary consumer goods, which declined by 4.97%.
All of the top 10 companies by market capitalization on the Indonesia Stock Exchange (IDX) posted losses, with the exception of Chandra Asri Petrochemical (TPIA), which closed flat at Rp 7,200. Among the notable movers:
Ticker |
Company |
% Change |
Closing Price (Rp) |
| BBCA | Bank Central Asia | -8.53% | 7,775 |
| BREN | Barito Renewables Energy | -13.82% | 4,740 |
| BYAN | Bayan Resources | -0.75% | 19,875 |
| BBRI | Bank Rakyat Indonesia | -10.12% | 3,640 |
| BMRI | Bank Mandiri | -10.19% | 4,670 |
| DCII | DCI Indonesia | -10.69% | 150,000 |
| AMMN | Amman Mineral Internasional | -14.23% | 4,610 |
| DSSA | Dian Swastatika Sentosa | -5.69% | 40,175 |
| TLKM | Telkom Indonesia | -4.98% | 2,290 |
| TPIA | Chandra Asri Petrochemical | 0.00% | 7,200 |
Despite the widespread selloff, a few stocks managed to buck the trend. Shares of SOSS surged 24.73% to Rp 464, triggering an upper auto-reject limit. Other gainers included CTBN (+9.95%), NETV (+9.79%), IPAC (+9.33%), and LINK (+9.24%).