Flooring Guide by Cinvex — JAKARTA — The Jakarta Composite Index (JCI) faced significant pressure during the trading week of May 18–22, 2026, falling 8.35% to close at 6,162.04. This downturn occurred amidst a backdrop of heightened market activity and sustained selling pressure from foreign investors.
Kautsar P. Nurahmad, Corporate Secretary of the Indonesia Stock Exchange (IDX), reported that the total market capitalization dropped by 10.07%, falling from Rp11,825 trillion the previous week to Rp10,635 trillion. This decline represents a massive shrinkage of approximately Rp1,190 trillion in market value over just five trading days.
Despite the bearish trend, trading activity showed mixed results. “The average daily transaction value actually climbed 15.68% to Rp21.77 trillion, up from Rp18.82 trillion the week prior,” Kautsar noted on Saturday (May 23, 2026).
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The increase in trade intensity was further reflected in the average daily transaction volume, which rose by 2.53% to 36.67 billion shares, compared to 35.76 billion shares the previous week. However, the average daily transaction frequency fell by 6.5% to 2.37 million trades, down from 2.53 million, suggesting that large-value transactions continued to dominate the market despite the overall volatility.
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Meanwhile, foreign investors maintained their net-selling trend. On Friday (May 22, 2026) alone, foreign investors recorded a net sell of Rp309.52 billion. Year-to-date (ytd) for 2026, the cumulative net sell by foreign investors has reached Rp41.63 trillion.
Amidst this market turbulence, the Indonesia Stock Exchange facilitated the listing of three new debt instruments between May 18 and May 22, 2026, comprising two bond issuances and one sukuk.
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On Monday (May 18, 2026), PT TBS Energi Utama Tbk listed its Sustainable Bond I Phase III of 2026, valued at Rp175 billion, which received an idA rating from PT Pemeringkat Efek Indonesia (PEFINDO), with PT Bank Mega Tbk serving as the trustee. Following this, on Friday (May 22), PT Samudera Indonesia Tbk listed its Sustainable Ijarah Sukuk I Phase III of 2026 worth Rp700 billion with an idA+(sy) rating. On the same day, PT Energi Mega Persada Tbk issued its own Sustainable Bond I Phase III of 2026, valued at Rp500 billion, with an idA+ rating.
These additions bring the total number of bond and sukuk issuances recorded on the IDX throughout 2026 to 62, involving 41 issuers with a combined value of Rp67.84 trillion.
As of now, the IDX maintains a total of 697 outstanding bond and sukuk issuances with a total value of Rp569.01 trillion and US$148.82 million. Additionally, the market supports 188 series of Government Securities (SBN) valued at Rp6,803.28 trillion and US$352.10 million, along with seven Asset-Backed Securities issuances totaling Rp3.57 trillion.
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Summary
The Jakarta Composite Index (JCI) experienced significant pressure during the trading week of May 18–22, 2026, falling 8.35% to close at 6,162.04. This decline led to a substantial 10.07% drop in total market capitalization, wiping out approximately Rp1,190 trillion to reach Rp10,635 trillion. Foreign investors maintained a net-selling trend, with their cumulative net sell for 2026 reaching Rp41.63 trillion.
Despite the JCI’s downturn, average daily transaction value increased by 15.68% to Rp21.77 trillion, and average daily transaction volume also rose. Concurrently, the Indonesia Stock Exchange listed three new debt instruments, comprising two bonds and one sukuk, totaling Rp1,375 billion. These additions bring the total bond and sukuk issuances on the IDX in 2026 to 62, valued at Rp67.84 trillion.