TEMPO.CO, Jakarta - Indonesia’s benchmark stock index closed lower on Thursday, pressured by investor caution after U.S. President Donald Trump’s national address failed to provide clarity on when the conflict in the Middle East might end.
The Jakarta Composite Index (JCI) fell 157.66 points, or 2.19 percent, to 7,026.78, while the LQ45 index, which tracks 45 blue-chip stocks, dropped 12.21 points, or 1.68 percent, to 714.58.
“Asian markets were mostly weaker as investors turned cautious again after U.S. President Donald Trump’s key speech failed to provide clarity on when the Middle East conflict would end,” said Maximilianus Nico Demus, Associate Director of Research and Investment at Pilarmas Investindo Sekuritas, in a market note issued in Jakarta on Thursday.
Trump said U.S. operations were nearing completion, but also signaled the possibility of more aggressive steps, including potential attacks on power infrastructure within the next two to three weeks, which renewed concerns over broader geopolitical escalation. Global markets fell and oil prices jumped after the speech, with Asian equities broadly under pressure.
Domestically, the JCI tracked the broader regional downturn and was also weighed down by sluggish export data and solid import growth.
Investor caution also intensified ahead of the release of Indonesia’s March 2026 foreign reserves data, after reserves in February fell to US$151.9 billion, their lowest level in three months, according to Bank Indonesia.
Nico said elevated global crude oil prices and geopolitical risks continue to pose upside risks to inflation, even though Indonesia’s annual inflation eased to 3.48 percent in March 2026, returning to Bank Indonesia’s target range.
He added that Bank Indonesia has recently introduced new measures to curb speculation, underscoring its priority of maintaining rupiah stability.
The JCI opened lower and remained in negative territory throughout both trading sessions.
Based on the IDX-IC sectoral index, only one sector posted gains: non-cyclical consumer goods, which rose 0.59 percent.
Ten sectors declined, led by basic materials, down 4.96 percent, followed by infrastructure, down 3.93 percent, and energy, down 2.73 percent.
Top gainers were ALKA, MSIN, BEER, YPAS, and ASPR, while the biggest losers were NSSS, DATA, FWCT, ATAP, and TALF.
Trading volume reached 31.54 billion shares worth Rp16.47 trillion across 2,014,275 transactions. A total of 475 stocks advanced, 209 declined, and 135 were unchanged.
Across the region, Japan’s Nikkei fell 2.40 percent to 52,449.00, Shanghai Composite dropped 0.74 percent to 3,919.29, and Hong Kong’s Hang Seng slipped 0.70 percent to 25,116.53. Singapore’s Straits Times Index was the outlier, rising 0.57 percent to 4,947.50.
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