TEMPO.CO, Jakarta - Interim President Director of the Indonesia Stock Exchange (IDX), Jeffrey Hendrik, asserted that the current fundamentals of the domestic capital market remain in good condition. He offered this reassurance amid the decline of the Jakarta Composite Index (JCI/IHSG).
"If we look at the financial reports submitted by all listed companies by the end of 2025, all listed companies have recorded a profit growth exceeding 21 percent," Jeffrey told reporters at the IDX building in Jakarta on Thursday, June 4, 2026.
Meanwhile, looking at the first quarter of 2026, he noted that blue-chip equities under the benchmark LQ45 index logged a 29.9 percent surge in net profit.
Jeffrey highlighted that during the first quarter of this year, approximately 80 percent of all listed companies managed to book a net profit. This figure marks the highest profitability ratio in the past five years. In 2020, by comparison, only 63 listed companies recorded a net profit, while the profitable ratio averaged between 73 and 76 percent across the 2021–2025 period.
Addressing the crisis of confidence currently gripping market players, Jeffrey explained that exchange authorities are rolling out measures to restore investor trust. "By boosting transparency, improving data granularity, and providing disclosures regarding high shareholding concentrations. All of these actions are efforts to re-establish investor confidence in the global market," he said.
On Wednesday, June 3, 2026, the JCI closed down by 4.11 percent to 5,941, its lowest level since May 2021. On Thursday morning, the JCI continued to weaken, dropping to 5,655.
An economist from Paramadina University, Wijayanto Samirin, suspects that the JCI will not strengthen in the near future. In his view, market sentiment remains depressed, weighed down by government policy initiatives that investors perceive as anti-market.
He pointed to controversial directives, including the designation of PT Danantara Sumberdaya Indonesia (DSI) as the nation's sole exporter, tightening regulations on foreign exchange export earnings, and mandates forcing banks to slash credit interest rates down to 8 percent. "These various top-down policies have been responded to by the business world and investors in a negative way," Wijayanto told Tempo on Wednesday, June 3, 2026.
Read: Indonesia's JCI Plunges Over 4% Amid Investor Confidence Crisis
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