Jakarta, CNBC Indonesia \u2014 A total of 351 shares on the Indonesia\nStock Exchange (IDX) were locked at the lower auto-reject limit (ARB) in\ntrading on Monday (19 October 2026). This was the first day the new ARB\nlimit of 7% took effect.<\/p>\n
According to IDX data compiled by CNBC Indonesia, the 351 shares\nrepresented around 36% of the 963 stocks listed on the exchange. Their\ncombined market capitalisation was approximately Rp3,197 trillion.<\/p>\n
Several large-cap shares were among those at the ARB limit. PT Bank\nCentral Asia Tbk (BBCA) fell 6.86% to Rp4,820 per share, with a market\ncapitalisation of Rp588.24 trillion\u2014the largest among the shares at the\nlimit that day.<\/p>\n
It was followed by PT Bayan Resources Tbk (BYAN), down 6.95% to\nRp10,375, and PT Amman Mineral Internasional Tbk (AMMN), which fell\n6.95% to Rp3,480. PT Telkom Indonesia (Persero) Tbk (TLKM) weakened\n6.84% to Rp1,770, while PT Ekamas Mora Republik Tbk (MORA) dropped 6.91%\nto Rp3,640.<\/p>\n
A number of other large companies also hit the ARB limit, including\nPT Chandra Asri Pacific Tbk (TPIA), PT Indofood CBP Sukses Makmur Tbk\n(ICBP), PT Bumi Resources Minerals Tbk (BRMS), PT Petrindo Jaya Kreasi\nTbk (CUAN) and PT Merdeka Copper Gold Tbk (MDKA).<\/p>\n
The 20 largest shares at the ARB limit had a combined market\ncapitalisation of around Rp2,302 trillion, or about 72% of the total\nmarket capitalisation of all shares at the limit that day.<\/p>\n
Shares in PT GoTo Gojek Tokopedia Tbk (GOTO) were also held at the\nlower limit, falling Rp1 to Rp24 per share. GOTO was the most actively\ntraded stock, with a volume of 9.56 billion shares; a sell queue of\naround 1.2 billion shares remained at the close.<\/p>\n
Overall, IDX data showed that 691 shares fell, 103 rose and 169 were\nunchanged.<\/p>\n
ARB cut to 7%<\/strong><\/p>\n With support from the Financial Services Authority (OJK), the IDX cut\nthe lower auto-reject limit for shares from 15% to 7% under an\nasymmetric system. The measure is set out in IDX Board of Directors\nDecree No.\u00a0Kep-00157\/BEI\/10-2026 on amendments to Regulation II-A\nconcerning the trading of equity securities.<\/p>\n The policy applies from 19 October to 31 December 2026. The IDX will\nreview it in light of market conditions.<\/p>\n The move followed a 11.57% plunge in the Jakarta Composite Index\n(JCI) on Friday (16 October 2026). The fall coincided with an\nannouncement by MSCI that it was considering moving Indonesia to the\nstandalone-market classification.<\/p>\n IDX President Director Jeffrey Hendrik said the policy had been\nfairly effective in easing market panic during the first trading session\nthat day. Selling pressure remained, he said, but investor panic had\neased compared with the previous Friday.<\/p>\n \u201cThe first session was quite effective in easing market panic,\u201d\nJeffrey told reporters at the IDX building on Monday (19 October\n2026).<\/p>\n Jeffrey added that the market could still fall. However, he said, any\ndecline was expected to take place through orderly trading mechanisms\nand on the basis of information available equally to all investors.<\/p>\n JCI pares losses<\/strong><\/p>\n The JCI closed down 188.49 points, or 3.64%, at 4,996.61. It had\nearlier plunged as much as 5.36% to an intraday low of 4,907.37, before\nparing its losses and briefly recovering above the psychological 5,000\nlevel.<\/p>\n Trading value totalled Rp25.13 trillion, with a volume of 34.07\nbillion shares. All sectors fell, with the steepest losses in basic\nmaterials, consumer non-cyclicals, technology and financials.<\/p>\n BBCA, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), BYAN, TLKM and\nAMMN were the biggest drags on the index.<\/p>\n Pressure on the share market continued to be driven by news that MSCI\nwas considering moving Indonesia out of the emerging-market category to\nstandalone status. Goldman Sachs estimated that passive fund outflows\ncould reach US$5.6 billion, or around Rp100.8 trillion, if Indonesia\nwere removed from MSCI indices.<\/p>\n Foreign investors have recorded net sales of Indonesian shares\ntotalling US$4.88 billion, or about Rp87.84 trillion, so far in\n2026.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/auto-reject-limit-cut-to-7-351-shares-hit-lower-limit-today-1792410636",
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