The Jakarta Composite Index (JCI) suffered a significant decline during Tuesday’s morning trading session (May 19), sliding deep into negative territory to settle at 6,396.27. According to data from Stockbit, this sharp correction occurred amidst a surge in trading volume, reflecting heightened market volatility.
The bearish sentiment was not confined to the equity market alone; the Indonesian Rupiah also faced downward pressure. Bloomberg data indicates that the currency weakened significantly by midday, falling 63 points (0.36%) to trade at IDR 17,731 per US Dollar as of 12:00 PM.
At the close of the session, the JCI plummeted by 202.97 points (-3.08%) to 6,396.27. Market activity was intense, with a total transaction value reaching IDR 15.13 trillion, supported by a volume of 27.96 billion shares across 1.73 million transactions. The market breadth was overwhelmingly negative, with only 96 stocks advancing, 611 declining, and 107 remaining unchanged.
Market Performance Highlights
Despite the broader market slump, several stocks managed to buck the trend. The top gainers of the session were led by RELI (Reliance Sekuritas Indonesia), which surged 20.33% to 580, followed by KONI (Perdana Bangun Pusaka) with a 14.53% gain to 3,310, ZATA (Bersama Zatta Jaya) up 12.00% to 84, LCKM (LCK Global Kedaton) rising 10.71% to 124, and ASPR (Asia Pramulia) gaining 8.46% to 436.
Conversely, the list of top losers highlighted significant selling pressure. ICON (Island Concepts Indonesia) dropped 14.97% to 125, while DFAM (Dafam Property Indonesia) fell 14.96% to 108. Other notable decliners included RLCO (Abadi Lestari Indonesia) down 14.91% to 3,310, COCO (Wahana Interfood Nusantara) down 14.84% to 264, and GSMF (Equity Development Investment) sliding 14.84% to 132.
Active Stocks: Volume and Value
Trading activity was dominated by a few key stocks. In terms of transaction value, BUMI (Bumi Resources) led the market with IDR 1.05 trillion, followed by BMRI (Bank Mandiri) with IDR 654.86 billion, ANTM (Aneka Tambang) with IDR 628.81 billion, MDKA (Merdeka Copper Gold) with IDR 503.08 billion, and BBCA (Bank Central Asia) with IDR 450.27 billion.
By share volume, the most actively traded stocks included BUMI with 53.33 million shares, BNBR (Bakrie & Brothers) with 20.01 million shares, BIPI (Astrindo Nusantara Infrastruktur) with 14.30 million shares, KOTA (DMS Propertindo) with 8.34 million shares, and DEWA (Darma Henwa) with 7.44 million shares.
Regional Market Performance
The broader Asian markets presented a mixed performance throughout the midday session. Data compiled from Stockbit and Yahoo Finance shows the following movements across regional benchmarks:
- Nikkei 225 (Japan): Fell 0.75% to 60,358.62
- Hang Seng (Hong Kong): Rose 0.39% to 25,774.11
- SSE Composite (China): Edged up 0.02% to 4,132.46
- Straits Times (Singapore): Gained 0.70% to 5,031.72
Summary
The Jakarta Composite Index (JCI) saw a sharp decline of 3.08%, closing at 6,396.27 during Tuesday’s trading session amid high market volatility and a total transaction value of IDR 15.13 trillion. This downturn also pressured the Rupiah, which depreciated by 0.36% to IDR 17,731 per US Dollar by midday. The market faced significant selling pressure, with 611 stocks closing lower compared to only 96 that managed to gain.
Despite the negative trend in the Indonesian stock market, trading activity remained dominated by stocks such as BUMI, BMRI, and ANTM in terms of transaction value. Regionally, Asian markets showed mixed results; while the Nikkei 225 index declined, the Hang Seng, SSE Composite, and Straits Times indices recorded gains. This trend reflects a period of heightened volatility across capital markets in the region.