Market Review
The JCI on Wednesday, June 3, 2026 opened marginally higher before reversing sharply, closing down 4.11% (-254.36 points) to 5,941.07. The selloff was driven by a confluence of factors: the rupiah hitting a record low of IDR 17,966 per USD on escalating US-Iran geopolitical tensions; Brent crude surging to USD 96 per barrel following reports of US strikes on Iran’s Qeshm Island; and Moody’s Baa2 negative outlook on Danantara deepening risk aversion. Net foreign selling reached IDR 993.2 billion.
Asian markets closed mostly higher. The Nikkei surged +2.50%, breaching the 68,000 level for the first time on strong AI and semiconductor momentum from Wall Street. The ASX 200 rose +0.70%, Shanghai Composite +0.22%, and KOSPI +0.15%, while Hang Seng fell -1.56% on property sector weakness.
European markets opened mixed. The DAX declined -0.84%, CAC 40 fell -0.37%, and STOXX 600 edged down -0.07%, while FTSE 100 was near flat. Sentiment was pressured by the USTR’s Section 301 tariff proposals targeting 60 trading partners and elevated energy prices from the ongoing Iran conflict.
Regards, Aldiracita Research
