TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) of the Indonesia Stock Exchange (IDX) closed lower on Wednesday afternoon, led by basic materials sector stocks.
JCI closed lower by 52.18 points or 0.82 percent to the position of 6,318.50. Meanwhile, the 45 leading stocks (LQ45) index decreased by 4.14 points or 0.65 percent to 630.68.
"JCI closed weaker in Wednesday's trade after fluctuating throughout the session," said Head of Research at Phintraco Sekuritas Ratna Lim in her analysis in Jakarta on Wednesday, May 20, 2026, as quoted by Antara.
Opening lower, JCI remained in negative territory until the end of the first stock trading session. JCI remained in the red throughout the second session and until closing.
Based on the IDX-IC Sectoral Index, nine sectors weakened, with the raw materials sector experiencing the deepest decline at 4.60 percent, followed by the transportation and logistics sector and the energy sector, which fell by 4.34 percent and 2.63 percent, respectively.
The stocks with the largest increases were LCKM, SURE, APIC, INTD, and MORA. Meanwhile, the stocks with the biggest declines were RELI, TPIA, WBSA, ASPR, and SMMT.
The stock trading frequency recorded 2,476,561 transactions with a total of 41.12 billion shares traded worth Rp22.35 trillion. 208 stocks rose, 483 stocks fell, and 126 did not change in value.
This afternoon, regional stock exchanges in Asia, including the Nikkei Index, weakened by 808.59 points or 1.34 percent to 59,742.00, the Shanghai Index weakened by 7.35 points or 0.18 percent to 4,162.18, the Hang Seng Index weakened by 146.73 points or 0.57 percent to 25,651.12, and the Straits Times Index weakened by 26.54 points or 0.52 percent to 5,045.80.
Regarding domestic news, Ratna stated that market participants reacted to President Prabowo Subianto's speech at the Plenary Session of the House of Representatives (DPR), where he presented the Macroeconomic Framework and Fiscal Policy Framework (KEM-PPKF) for the State Budget (RAPBN) for the 2027 fiscal year.
In addition, the President also announced the government's plan to mandate the export of natural resource commodities through state-owned enterprises (SOEs) appointed by the government as the sole exporters.
During the event, the President also instructed the Association of State-Owned Banks (Himbara) to lower the loan interest rates for small communities.
In contrast, the Bank Indonesia (BI) increased the BI Rate by 50 basis points to 5.25 percent at the May 2026 Board of Governors Meeting (RDG). This exceeds the expected consensus of 5 percent. The BI Rate hike led to a 0.29 percent strengthening of the Rupiah to Rp17,654 per US dollar.
Read: JCI Rebounds as Investors Monitor Prabowo's Economic Speech
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