TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) of the Indonesia Stock Exchange (IDX) closed lower on Thursday afternoon, influenced by the basic materials and energy sectors.
The JCI closed down by 223.56 points or 3.54 percent to 6,094.94. Meanwhile, the group of 45 leading stocks (LQ45) index fell by 14.28 points or 2.26 percent to 616.40.
"The main sentiment for the decline in JCI came from the plan to centralize the export of commodities by SOEs, which is considered to be detrimental to companies and shareholders. The negative sentiment came from domestic and foreign investors," said Fixed Income and Macro Strategist at PT Mega Capital Indonesia Lionel Priyadi when contacted in Jakarta on Thursday, May 21, 2026, as quoted by ANTARA.
Domestic and foreign market participants responded to the plan to issue a Government Regulation on the Governance of Natural Resource Commodity Exports, including regulations regarding SOEs as the sole exporter for several strategic commodities.
Market participants also responded to the establishment of PT Danantara Sumberdaya Indonesia (DSI) as a special SOE for the export of natural resource sectors.
PT DSI is directly under the Danantara Investment Management Agency, with the main task of strengthening the governance of exports of several strategic commodities, such as crude palm oil (CPO), coal, and ferroalloy.
One of the reasons for establishing a special SOE for exports is the alleged underinvoicing practices in commodity exports, which are said to have disadvantaged the country by Rp15.4 quadrillion over 34 years.
Opening lower, the JCI remained in negative territory until the closing of the first stock trading session. In the second session, the JCI remained in the red zone until the close of stock trading.
Based on the IDX-IC Sectoral Index, all eleven sectors corrected, with the raw materials sector experiencing the deepest decline of 6.96 percent, followed by the energy sector and the non-primary consumer goods sector, which fell by 6.74 percent and 5.70 percent, respectively.
The stocks that experienced the biggest gains were SOTS, BOBA, ENAK, APLI, and KOBX. Meanwhile, the stocks that experienced the biggest price decline were BUKK, IRSX, ENRG, POLU, and RAJA.
A total of 35.77 billion shares were traded in 2,145,783 stock trading transactions, worth Rp18.49 trillion. About 88 stocks rose, 663 stocks fell, and 69 remained unchanged in value.
This morning, regional stock exchanges in Asia, including the Nikkei index, strengthened by 1,853.59 points or 3.10 percent to 61,658.00, the Shanghai index weakened by 84.91 points or 2.04 percent to 4,007.28, the Hang Seng index weakened by 264.60 points or 1.03 percent to 25,386.52, and the Strait Times index strengthened by 0.80 points or 0.02 percent to 5,045.71.
Read: JCI Slips at Close Led by Losses in Basic Materials Stocks
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