The Jakarta Composite Index (JCI) fell by more than 5% at the opening of trading today, Monday (March 9, 2026). At that time, the index briefly dropped to its lowest level in the 7,100 range.

According to trading data from RTI Business, the decline exceeding 5% occurred around 09:12 WIB when the JCI reached 7,156.68. Afterward, the index moved to 7,287.98, reflecting a decrease of 3.92%.

Capital market observer Reydi Octa stated that the pressure on the JCI at the start of trading was driven by escalating geopolitical tensions in the Middle East. He explained that investors are currently reducing their exposure to riskier assets in emerging markets.

“Geopolitical tensions in the Middle East continue to create a risk-off sentiment in global markets because they push energy prices higher and increase uncertainty. As a result, investors tend to reduce exposure to risky assets such as stocks in emerging markets,” Reydi told detikcom on Monday (March 9, 2026).

In line with the risk-off sentiment triggered by rising tensions in the Middle East, investors were seen selling large-cap stocks in Indonesia. This factor also contributed to the pressure on the JCI’s movement.

“When large-cap stocks decline simultaneously, the impact is immediately reflected in the JCI,” he explained.

Separately, Head of Retail Research at MNC Sekuritas, Herditya Wicaksana, said that the JCI’s movement was in line with stock markets across Asia. He noted that regional markets were also experiencing corrections due to the Middle East conflict and the closure of the Strait of Hormuz.

Apart from affecting the JCI, the Middle East conflict has also influenced global oil prices and the rupiah exchange rate. Herditya said that crude oil prices have now surpassed US$100 per barrel, while the rupiah has weakened beyond its psychological level.

“It has been observed that crude oil prices have risen above US$100 per barrel, and the rupiah exchange rate has already crossed its psychological threshold, reaching Rp17,009 per US dollar. From a technical perspective, we have projected that the JCI may continue its downward correction,” he added.