JCI Falls 6.96% in September 2026

JAKARTA, Jakartaweekly.com — Indeks Harga Saham Gabungan (Jakarta Composite Index/JCI) closed at 6,071.14 at the end of September 2026. This means the JCI fell 6.96% month-on-month (mtm) in September 2026, bringing its year-to-date (ytd) decline to 29.79%.

Foreign investors showed a selling trend in the stock market, recording a net sell of Rp10.24 trillion in September 2026. This reversed the trend seen in August 2026, when foreign investors still recorded a net buy of Rp1.19 trillion.

Hasan Fawzi, Chief Executive of the Capital Market, Derivatives Finance and Carbon Exchange Supervision at the Financial Services Authority (OJK), explained that the domestic stock market moved dynamically in September 2026 amid increased volatility in global financial markets. The increase in global financial market volatility was driven by escalating geopolitical tensions and rising global interest rates. 

“Amid these dynamics, the resilience and liquidity of the domestic capital market remained manageable,” Hasan said at a press conference on Monday, October 5, 2026. 

In terms of liquidity, the average bid-ask spread in the domestic stock market stood at 1.20%, relatively stable compared with 1.17% in August 2026. Meanwhile, the average daily trading value in the stock market fell to Rp14.94 trillion from Rp15.86 trillion in August 2026.

ICBI edged down 0.41% year-to-date

In the bond market, the Indonesia Composite Bond Index (ICBI) closed at 439.05 at the end of September 2026. It edged down 0.23% mtm and 0.41% ytd. Meanwhile, the average yield on Indonesian government bonds (SBN) rose by 14.12 basis points (bps) mtm during the same period, in line with higher global government bond yields and continued high global uncertainty.

Meanwhile, foreign investors recorded a limited net sell of Rp0.34 trillion in the SBN market on a monthly basis. This was in contrast to August 2026, when foreign investors recorded a net buy of Rp15.35 trillion. Foreign investor flows in the corporate EBUS market, however, showed positive developments, with a net buy of Rp0.91 trillion after recording a net sell of Rp0.02 trillion in August 2026.

The investment management industry also adjusted amid financial market dynamics during the reporting month. Assets Under Management (AUM) stood at Rp1,004.68 trillion at the end of September 2026, down 1.55% mtm and 3.65% ytd. Meanwhile, mutual fund Net Asset Value (NAV) stood at Rp637.07 trillion, down 2.42% mtm and 5.66% ytd. Mutual fund investors recorded net redemptions of Rp10.43 trillion mtm.

Since gold Exchange Traded Funds (ETFs) were launched on August 10, 2026, seven gold ETF products had been issued by seven investment managers as of September 30, 2026, with total assets under management of Rp105.63 billion.

Capital market investors has grown 57.96%

OJK also recorded continued growth in the number of domestic capital market investors. As of September 2026, 1.03 million new investors had been added. Since the beginning of the year, the number of capital market investors has grown 57.96% to 32.17 million.

“Through the end of September 2026, corporate interest in raising funds through public offerings remained high,” Hasan added. 

The total value of public offerings reached Rp186.03 trillion ytd. This consisted of seven initial public offerings (IPOs), 18 limited public offerings, 11 public offerings of debt securities and/or sukuk (EBUS), and 123 continuous public offerings of EBUS. Meanwhile, the pipeline consists of 29 planned public offerings with a total indicative value of Rp26.47 trillion.

Hasan also said that with the 2026 fundraising target set at Rp250 trillion, the realization by year-end could be influenced by factors such as market dynamics, investor interest, and issuers’ considerations regarding the timing of issuance and funding costs.

For fundraising by businesses through Securities Crowdfunding (SCF), 15 new securities and nine new issuers were recorded in September 2026, with Rp22.92 billion raised. With this development, the cumulative funds raised through SCF reached Rp2.06 trillion.

Derivatives financial market recorded 42,718 lots in September 2026

In the derivatives financial market, OJK recorded a transaction volume of 42,718 lots in September 2026. Cumulatively, transaction volume from January to September 2026 reached 395,971 lots.

Meanwhile, on the Carbon Exchange, a total of 160 service users had registered since its launch on September 26, 2023, through September 30, 2026. Cumulative transaction volume reached 1.98 million tCO2e, with total transaction value reaching Rp93.97 billion.

As part of efforts to enforce regulations and protect consumers in the capital market, derivatives finance and carbon exchange sectors, OJK had imposed administrative sanctions for case-related violations as of September 30, 2026. These included fines totaling Rp112.79 billion against 136 parties.

Separately, as of September 30, 2026, OJK had imposed administrative fines totaling Rp277 billion on 699 parties for late compliance. OJK also imposed an administrative fine of Rp500 million and issued 196 written warnings for non-case-related violations other than late compliance.

During September 2026 alone, through September 30, OJK imposed administrative fines totaling Rp8.5 billion for violations of laws and regulations in the capital market, derivatives finance and carbon exchange sectors.