The Jakarta Composite Index (JCI), Indonesia’s primary stock market index, experienced a 0.34% increase during the week ending July 24. This rise was attributed to robust trading activity, despite continued foreign investor withdrawals and a backdrop of global economic uncertainties.
During this period, the market capitalization of the Indonesia Stock Exchange climbed to Rp 10,870 trillion. Meanwhile, the average daily trading turnover saw a significant boost of 41%, reaching Rp 19.76 trillion. However, foreign investors maintained a cautious stance, remaining net sellers with total outflows amounting to Rp 79.09 trillion for the year, reflecting ongoing skepticism towards Indonesian assets.
Market sentiment was notably affected by the escalation of global oil prices, a consequence of increased tensions in the Middle East. Additionally, the imposition of new US tariffs on imports from several of its trading partners, including a 10% tariff on certain Indonesian goods, added to the apprehensive atmosphere.
Despite these challenges, Indonesia’s Finance Ministry has stated that the country’s fiscal position remains stable. However, it acknowledged that the rising oil prices could exert additional pressure on the state budget for 2026.