JCI Slumps 3 Percent as MSCI Sentiment Continues to Weigh

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February 2, 2026 | 11:23 am

The movement of the Jakarta Composite Index at the Indonesia Stock Exchange in Jakarta, January 29, 2026. Tempo/Tony Hartawan

TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) weakened 3.01 percent to 8,079.024 at the start of trading this week, Monday, February 2, 2026. The 45-stock blue chip index, or LQ45 index, also fell 2.80 percent to 809,361.

The Indonesia Stock Exchange (IDX) recorded a 7.37 percent decline in market capitalization last week, to Rp15,046 trillion from Rp16,244 trillion the previous week. Consequently, market capitalization decreased by Rp1,198 trillion during the week.

"Stock trading data on the IDX for the period January 26-30, 2026, closed with mixed results," said IDX Corporate Secretary Kautsar Primadi Nurahmad in an official statement, quoted on Sunday, February 1, 2026.

Last week, the Jakarta Composite Index (JCI) plunged 8 percent on January 28-29, 2026, following the announcement by Morgan Stanley Capital International (MSCI). Over the course of the week, the JCI weakened 6.96 percent, reaching 8,329.6 at the close of trading on Friday, January 30, 2026.

The JCI plummeted due to sentiment from MSCI, which questioned the free float, share ownership transparency, and the freeze on changes to the index composition.

Foreign investors recorded net sales of Rp1.53 trillion on Friday, January 30, 2026. Throughout 2026, foreign investors recorded net sales of Rp9.88 trillion.

Following MSCI's release of a report questioning the transparency of Indonesian stock free float data, IDX Director Iman Rachman resigned from his position on Friday, January 30, 2026. One day later, four Financial Services Authority (OJK) officials also announced their resignations. They are Mahendra Siregar, Chairman of the OJK Board of Commissioners; Mirza Adityaswara, Deputy Chairman of the OJK Board of Commissioners; Inarno Djajadi, Chief Executive for Capital Market Supervision, Financial Derivatives, and the OJK Carbon Exchange; and I.B. Aditya Jayaantara, Deputy Commissioner for Issuer Supervision, Securities Transactions, Special Inspections, Financial Derivatives, and the OJK Carbon Exchange.

Anastasya Lavenia Yudhi contributed for this article.

Read: IDX to Open All MSCI-Requested Data to the Public

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