June 5, 2026 | 01:26 pm

TEMPO.CO, Jakarta – Indonesia's benchmark stock index plunged in Friday's morning session, while the rupiah posted a modest gain against the U.S. dollar amid heightened market uncertainty.The Jakarta Composite Index (JCI) fell 2.53 percent to 5,692 at the close of the first trading session on June 5. Of the stocks traded, 624 declined, 115 advanced, and 220 were unchanged, according to data from the Indonesia Stock Exchange (IDX).Trading volume reached 23.37 billion shares worth Rp21.07 trillion (US$1.3 billion), with a total of 1.29 million transactions recorded during the session.Among the top gainers were PT Maha Properti Indonesia Tbk (MPRO), which surged 19.34 percent, followed by PT Asuransi Bina Dana Arta Tbk (ABDA), up 18.33 percent, and PT Kian Santang Muliatama Tbk (RGAS), which gained 13.86 percent. Shares of PT Chandra Asri Pacific Tbk (TPIA) and PT Mutuagung Lestari Tbk (MUTU) also posted double-digit gains.On the losing side, PT Pacific Strategic Financial Tbk (APIC) led declines, falling 14.88 percent. Other notable losers included PT WEHA Transportasi Indonesia Tbk (WEHA), PT Alakasa Industrindo Tbk (ALKA), PT Asia Pramulia Tbk (ASPR), and PT Calculus Global Ventures Tbk (STAR), each dropping more than 14 percent.Meanwhile, the rupiah strengthened 0.12 percent to Rp18,038 per U.S. dollar in afternoon trading, compared with its previous close of Rp18,049.Hendra Wardana, founder of investment research firm Republik Investor, said the sharp decline in the stock market reflects elevated uncertainty among investors."The market is currently in a phase of high uncertainty," Hendra told Tempo on Thursday."In such conditions, investors tend to reduce exposure to risky assets and wait for clearer signals on the direction of economic policy."According to Hendra, investor confidence depends not only on economic growth prospects but also on the consistency and credibility of government policies."Financial markets are highly sensitive to changes in risk perception, making trust a key factor in investment decisions," he said.Read: IDX Boss Assures Market Is Good as JCI Hits Lows