TEMPO.CO, Jakarta - The rupiah and Indonesia’s benchmark Jakarta Composite Index (JCI) both closed lower on Monday, May 11, 2026, amid rising global uncertainty and market volatility.
The rupiah weakened 32 points to Rp17,414 per US dollar, while the JCI fell 0.92 percent to 6,905.6.
Director of PT Traze Andalan Futures Ibrahim Assuaibi said the rupiah’s decline was driven by rising geopolitical risks after US President Donald Trump rejected a proposal from Iran.
“Geopolitical tensions are escalating ahead of Trump’s visit to China this weekend, where he is expected to meet Chinese President Xi Jinping in Beijing,” Ibrahim said in a written statement on Monday, May 11, 2026.
On the domestic side, Bank Indonesia’s Consumer Survey showed continued optimism in the economy. The Consumer Confidence Index (CCI) for April 2026 stood at 123.0, slightly higher than 122.9 in March.
In equity trading, 251 stocks gained, 442 declined, and 125 were unchanged. The LQ45 index dropped 1.26 percent to 668.63.
According to RTI Business data, total market transactions reached Rp20.53 trillion, with a trading volume of 41.47 billion shares and 2.82 million transactions recorded.
Equity analyst at PT Indo Premier Sekuritas Hari Rachmansyah said market movement this week will be influenced by the upcoming index rebalancing by MSCI.
“The MSCI Indonesia rebalancing scheduled for May 12, 2026, is unlikely to bring in new entrants, but it could still trigger shifts in stock weightings that affect overall market direction,” Hari said.
He added that the rebalancing could prompt portfolio rotation, potentially driving short-term volatility in large-cap stocks.
Read: What Looming MSCI Rebalancing Entails for JCI This Week
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