Keep Falling, Purbaya Still Pede JCI Able to Break 10,000

JAKARTA - Finance Minister Purbaya Yudhi Sadewa is optimistic that the Indonesian Stock Exchange (IDX) Composite Stock Price Index (IHSG) will be able to break through the 10,000 level this year despite its performance being weakening.

According to Purbaya, the volatility of the JCI that occurred at this time was caused by negative sentiments in the global economy.

The Minister of Finance explained that the performance of the JCI would improve as the fundamentals of the national economy strengthened.

Therefore, the focus is currently more centered on efforts to maintain economic performance compared to the JCI.

"If the economy is good, it will (JCI) rise quickly. Therefore, my focus is to take care of it (the economy), not to take care of the JCI. Because the JCI will adjust automatically to the fundamentals of the economy," said Purbaya, quoted by Antara.

For your information, the JCI on Friday afternoon trading closed down 249.12 points or 3.38 percent to the position of 7,129.49. Meanwhile, the group of 45 leading stocks or the LQ45 index fell 25.12 points or 3.51 percent to 690.76.

Opened weak, the JCI settled in negative territory until the closing of the first trading session. In the second session, the JCI was still in the red zone ahead of the closing of the stock trading.

Based on the IDX-IC Sector Index, all or eleven sectors weakened, namely the non-primary consumer goods sector fell the most at minus 4.14 percent, followed by the infrastructure sector and the energy goods sector which fell by 4.03 percent and 3.82 percent respectively.

Associate Director of Research and Investment Pilarmas Investindo Sekuritas Maximilianus Nico Demus alias Nico in his study in Jakarta, Friday, explained that the weakening was influenced by concerns about energy supply at the global level.

In addition, next week, market participants will look forward to the meeting of the US central bank, the FOMC Meeting by The Fed, which is expected to still maintain the benchmark interest rate at the level of 3.53-3.75 percent.

The US is also scheduled to release consumer confidence, housing data, gross domestic product (GDP) for the first quarter of 2026, personal income, personal spending, PCE price index and ISM manufacturing index.

From within the country, the JCI weakened after Fitch Ratings downgraded the credit outlook of four major banks in Indonesia, namely Bank Mandiri (BMRI), Bank Rakyat Indonesia (BBRI), Bank Central Asia (BBCA), and Bank Negara Indonesia (BBNI), from stable to negative.

On the other hand, to protect crude oil stocks amid the conflict in the Middle East region, the government secured 150 million barrels of Russian oil as part of the national energy strategy.