Indonesia’s Jakarta Composite Index fell 1.99 percent to close at 5,266.13 points on Tuesday (27/10), with analysts citing profit taking and selling pressure. Both BRI Danareksa Sekuritas and Mirae Asset expect further weakness in the coming session.
Support and resistance eyed
BRI Danareksa Sekuritas pointed to a support range of 5,182 to 5,118 points. The firm also noted the index’s 200-day moving average stood at 6,916 points.
Mirae Asset put support at 5,192 and 5,065 points, with resistance at 5,398 and 5,524 points. Nafan Aji Gusta, Senior Technical Analyst at Mirae Asset, said the index potentially faces a limited decline, as a wave (b) pattern emerged after a significant correction. He added that stochastic K_D indicators show a positive direction, but the RSI remains negative and trading volume is declining.
Pressures on the outlook
Rupiah weakness, foreign capital outflows and rising risk in the domestic bond market were cited as pressures weighing on the projected Wednesday session. The US Federal Reserve’s decision, scheduled for 27-28 October 2026, was also in view; most market participants expected the Fed to hold its policy rate at 3.75 to 4.00 percent, following a 25 basis point increase in September. West Texas Intermediate crude fell 1.83 percent to $99.90 a barrel, while Brent slipped 1.67 percent to $113.88, as oil prices eased on Middle East diplomacy efforts.
Exchange meeting on Wednesday
The Indonesia Stock Exchange’s extraordinary general meeting, set for Wednesday (28/10), will take up amendments to the exchange’s articles of association tied to demutualisation. Shareholders will also vote on the use of retained earnings based on audited financial statements as of 30 June 2026, along with the 2027 work plan and budget.
Also Read
Nafan Aji Gusta said demutualisation could be a long-term positive catalyst if it strengthens the exchange’s independence, transparency and governance accountability, and separates business interests from regulatory and supervisory functions. Demutualisation could also open opportunities for strategic investors, including Danantara. Separately, the exchange plans to exclude high shareholding concentration stocks from the index calculation starting 2 November 2026.
Related: Jakarta stocks slide 1.22% as IHSG closes at 5,373.09
