Jakarta, CNBC Indonesia – The Composite Stock Price Index fell more than 1% in the first trading session today, Wednesday (21/1/2026). The decline in the JCI occurred following Bank Indonesia’s announcement of interest rates and after the threat of tariffs from US President Donald Trump caused almost the entire global equity market to suffer.
As of 10.40 WIB, the JCI was corrected 1.20% to level 9,024 with a transaction value of IDR 15.66 trillion involving 28.94 billion shares in 1.9 million transactions.
A total of 563 shares experienced a decline, 142 rose and 91 others remained stagnant.
Almost all trade sectors weakened with the biggest correction recorded by the property and primary consumer sectors.
Specifically, Astra Group shares were listed as the main weight in today’s JCI performance. Compact Astra Group shares corrected sharply in today’s trading after the government revoked a number of forestry and mining business permits as a result of the Sumatra floods, including the Agincourt gold mine producer owned by United Tractors (UNTR).
ASII shares were corrected almost 9% to IDR 6,625 per share, while UNTR shares had opened to touch the limit auto rejection bottom (ARB).
Other issuers that contributed to the JCI’s performance included Bank Central Asia (BBCA), which was corrected under pressure from foreign selling.
The market is now anticipating increased global uncertainty following the threat of new tariffs from President Trump and increasing pressure on the global bond market.
Bank Indonesia is expected to take safe steps by maintaining the BI Rate at 4.75% at the Board of Governors Meeting (RDG) on Wednesday.
At the previous RDG which was held on 16-17 December 2025, BI decided to maintain the BI Rate at the level of 4.75%, with a deposit facility of 3.75% and a lending facility of 5.50%.
This decision is the third time BI has held interest rates since the last cut in the September 2025 RDG. At that time, BI cut interest rates by 25 basis points (bps) as part of efforts to support domestic economic growth momentum.
As for the January 2026 RDG, based on a consensus gathered by CNBC Indonesia from 13 agencies/institutions, all of them are united in predicting that BI will again hold interest rates at the level of 4.75%.
Meanwhile, Asia-Pacific markets opened lower on Wednesday, reflecting overnight losses on Wall Street after President Donald Trump stepped up rhetoric regarding Greenland, threatening new tariffs on countries that resist transferring the Danish territory to the United States.
Hong Kong’s Hang Seng index futures contract was at 26,341, below the benchmark index’s last close of 26,487.51.
Japan’s Nikkei 225 index fell 1.28%, while the Topix fell 1.09%. South Korea’s Kospi index fell 1.09% while the Kosdaq index of small-cap stocks fell 2.2%.
Australia’s S&P/ASX 200 index started the day down 0.32%.
Trump said on Saturday that exports from eight European countries would face 10% tariffs starting February 1, increasing to 25% on June 1 if talks failed to produce US control of mineral-rich Greenland.
He also threatened to impose 200% tariffs on French wine and champagne, following reports that President Emmanuel Macron was unwilling to join his proposed “Peace Council”. Trump went on to criticize the UK, calling its plan to transfer sovereignty of the Chagos Islands, which is home to a joint UK-US military base, to Mauritius a “very stupid act,” calling the move a further justification for acquiring Greenland on national security grounds.
European leaders called President Donald Trump’s latest tariff threat “unacceptable” and are reportedly considering countermeasures. France is said to be urging the European Union to deploy its strongest economic response tool, the so-called Anti-Coercion Instrument.
U.S. stock futures rose slightly in early Asian trading hours after the major averages suffered their worst decline in three months.
Overnight in the US, the Dow Jones Industrial Average fell 870.74 points, or 1.76%, to end the session at 48,488.59. The S&P 500 fell 2.06% to 6,796.86. The Nasdaq Composite slumped 2.39%, closing at 22,954.32. This was the worst session since October for all three major indexes. US government bond yields surged and the US dollar weakened as Trump’s threats caused a flight from US assets.
(fsd/fsd)
[Gambas:Video CNBC]
