The Jakarta Composite Index (JCI) ended the first trading session of the day on Thursday, May 21, firmly in the red. The index slipped by 174.140 points, or 2.76 percent, settling at 6,144.359. Similarly, the LQ45 index, which tracks the most liquid stocks, recorded a decline of 9.848 points, or 1.56 percent, closing at 620.828.
Market breadth remained weak throughout the session, with 601 stocks declining, while only 118 stocks managed to post gains and 94 remained stagnant. Market activity was significant, with a trading frequency of 1,285,918 transactions. The total trade volume reached 19.919 billion shares, representing a total transaction value of Rp 9.784 trillion.
Among the session’s top losers, several stocks faced double-digit declines: LCK Global Kedaton (LCKM) dropped 14.95 percent to 165; Cakra Buana Resources Energi (CBRE) fell 14.72 percent to 695; Chandra Asri Pacific (TPIA) retreated 14.66 percent to 2,270; and BSA Logistics Indonesia (WBSA) saw a 14.65 percent decrease to 670.
In the currency market, the Indonesian Rupiah also experienced slight pressure. According to Bloomberg data at 12:00 PM Western Indonesian Time (WIB), the currency weakened by 5 points or 0.03 percent against the US Dollar, trading at Rp 17,658.
The bearish sentiment in Jakarta contrasted with mixed performances across major Asian markets during the midday session:
- The Nikkei 225 in Japan surged by 2,076.704 points (3.47 percent) to reach 61,881.101.
- The Hang Seng Index in Hong Kong saw a modest gain of 29.800 points (0.12 percent) to 25,680.919.
- The SSE Composite Index in China remained virtually flat, dipping by 0.070 points (0.00 percent) to 4,162.109.
- The Straits Times Index in Singapore climbed by 17.580 points (0.35 percent) to 5,062.490.
Summary
The Jakarta Composite Index (JCI) experienced a sharp decline of 2.76% during Thursday’s morning trading session, settling at 6,144.359 points. Market sentiment remained predominantly negative, with 601 stocks recording losses compared to only 118 gains, while the Indonesian Rupiah faced slight downward pressure against the US Dollar.
Trading activity was notable with a total volume of 19.919 billion shares and a transaction value reaching Rp 9.784 trillion. This domestic downturn stood in contrast to other major Asian markets, which largely experienced mixed or positive performances throughout the session.