JCI Weakens as Global Tech Sell-Off, Profit-Taking Hit Sentiment
Jakarta. Jakarta Composite Index (JCI) closed lower on Friday, sliding 53.08 points, or 0.64%, to 8,212, with trading ranging between 8,170 and 8,251 as investors turned cautious amid mixed global and domestic pressures.
Market activity remained robust, with 49.36 billion shares traded and turnover reaching Rp 24.30 trillion ($1.44 billion) across more than 2.85 million transactions. Decliners outnumbered gainers, with 408 stocks falling against 267 advancing and 148 unchanged.
On the gainers’ board, Trisula Textile surged 25.17%, followed by Rockfields Prop, up 24.79%, Guna Timur Raya, which climbed 24.74%, and Indospring, rising 24.51%.
Meanwhile, Ifishdeco dropped 14.93%, Satria Mega fell 14.91%, Hillcon declined 13.98%, and Leyand Internasional slipped 12.84%.
Pilarmas Investindo Sekuritas attributed the decline to a combination of global and domestic sentiment that prompted a more defensive stance among investors. Regional Asian markets weakened in line with Wall Street losses, as concerns grew over the potential sectoral disruptions from artificial intelligence and as investors focused on upcoming US inflation data.
US inflation is expected to ease to 2.5% year-on-year from 2.7%, with core inflation also projected to slow to 2.5% from 2.6%—figures seen as key to shaping the Federal Reserve’s future interest-rate direction. Stronger-than-expected US labor data has already shifted expectations for the first rate cut to July 2026, later than the previously anticipated June timeline.
Pilarmas noted that contained inflation could still allow the US central bank to adopt looser policy to support economic growth and labor market stability.
Additional pressure came from China, where new home prices fell 3.3% year-on-year in January 2026, marking the deepest drop in seven months and underscoring ongoing weakness in the property sector that continues to weigh on investor confidence in the country’s recovery.
Domestically, the brokerage also cited profit-taking ahead of the long Lunar New Year holiday and cautious positioning before Bank Indonesia’s policy meeting next week as factors behind Friday’s decline.
Across Asia, shares traded lower following a technology-led sell-off on Wall Street tied to AI-related uncertainty. Japan’s Nikkei 225 dropped 1.2% to 56,941, with SoftBank Group tumbling 8.9% despite posting a $1.6 billion quarterly profit. South Korea’s Kospi slipped 0.3% to 5,507 even as Samsung Electronics gained 1.5%.
Hong Kong’s Hang Seng fell 1.7% to 26,575, while the Shanghai Composite declined 1% to 4,091.
Overnight in the US, the S&P 500 recorded its second-worst day since Thanksgiving, falling 1.6%, or 108.71 points, to 6,832, though it remains near last month’s record high. The Dow Jones Industrial Average dropped 1.3%, or 669.42 points, to 49,451, and the Nasdaq Composite slid 2%, or 469.32 points, to 22,597.
Recent fears that AI disruption could undermine parts of the software and broader technology sector have dented investor confidence, with uncertainties over whether massive corporate AI investments will ultimately deliver returns. Still, some economists remain optimistic, arguing the AI-driven rally, particularly in technology stocks, has further room to run and could support stronger equity performance this year.
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