Jakarta, CNBC Indonesia \u2014 The Composite Stock Price Index (IHSG)\nclosed this week\u2019s trading session below the 7,000 level.<\/p>\n
The IHSG closed down 204.92 points or -2.86% at 6,969.40 on Friday\n(8\/5\/2026). A total of 607 stocks declined, 138 rose, and 214 were\nunchanged.<\/p>\n
Trading value was notably high at Rp 36.06 trillion, involving 54.38\nbillion shares in 2.8 million transactions. Market capitalisation also\nfell to Rp 12,406 trillion.<\/p>\n
According to Refinitiv, nearly all sectors were in the red, with\nutilities, basic materials, and energy experiencing the deepest declines\nat -9.34%, -6.76%, and -5.27% respectively.<\/p>\n
Commodity stocks, from coal to nickel, suddenly dropped significantly\nin the second trading session. Merdeka Copper Gold (MDKA), Timah (TINS),\nVale Indonesia (INCO), and Merdeka Gold Resources (EMAS) fell by more\nthan 10%.<\/p>\n
However, the two main drags on the IHSG today were Barito Renewables\nEnergy (BREN) and Dian Swastatika Sentosa (DSSA), contributing -20.29\npoints and -20.28 points respectively.<\/p>\n
The correction in commodity stocks, particularly nickel, comes\nalongside the government\u2019s plan to implement a new tax on the coal and\nnickel sectors over the \u2018windfall\u2019 profits of the industry. This tax is\noften referred to as a windfall profit tax.<\/p>\n
The imposition of the windfall tax on the mining and nickel\nprocessing sector will be accompanied by the introduction of export\nduties. At present, the policy is still being discussed with the\nMinistry of Energy and Mineral Resources (ESDM).<\/p>\n
Finance Minister Purbaya Yudhi Sadewa stated that the export duties\nplus windfall profit tax for nickel commodities are aimed at\ncompensating for the energy subsidies that the government has rolled out\namid high volatility in global crude oil prices, due to the conflict in\nthe Middle East.<\/p>\n
Separately, the Ministry of National Development Planning\n(PPN)\/Bappenas has set a series of tax policies to apply in 2027, to\npursue a state revenue ratio of 11.82%-12.40% of GDP.<\/p>\n
The state revenue ratio for 2027 consists of a tax revenue target of\n10.02%-10.50% of GDP and non-tax state revenue (PNBP) of 1.80%-1.89% of\nGDP.<\/p>\n
In the 2026 Government Work Plan (RKP) document, it is revealed that\nefforts to achieve that ratio target will be pursued through the\nmodernisation of tax and PNBP administration, integration of data bases\nsupported by digitalisation to prevent leaks and capture all economic\nactivities (including the informal sector).<\/p>\n
This includes the implementation of windfall tax policies.\n\u201cStrengthening supervision, simplification of regulations to reduce\ninformality, measured and targeted implementation of windfall tax, and\nstrengthening synergy between central and regional governments,\u201d quoted\nfrom the 2027 RKP document, Friday (8\/5\/2026).<\/p>\n
In addition, the government is examining the implementation of a\nprofit-sharing system like that in the oil and gas sector for the\nmineral and coal mining (minerba) industry. This is done so that the\nmanagement of natural resources can be considered to provide greater\nbenefits for the state and public welfare.<\/p>\n
Energy and Mineral Resources Minister Bahlil Lahadalia explained that\nthe government wants to ensure that both old and new mines can\ncontribute maximally to state revenue. One approach being considered is\nadopting a cooperation pattern similar to that in the oil and gas\nsector.<\/p>\n
In the oil and gas sector, there are at least schemes such as cost\nrecovery and gross split used in cooperation contracts between the\ngovernment and private parties. This model is considered a reference for\nimplementation in the minerba sector.<\/p>\n
From abroad, tensions have resurfaced in the Middle East between the\nUnited States (US) and Iran on Thursday-Friday (8\/5\/2026). In the latest\nupdate, both countries exchanged fire in the Strait of Hormuz.<\/p>\n
Attacks were also reported in the skies over Tehran. On the other\nhand, the United Arab Emirates (UAE) also reported drone and missile\nattacks. An announcement of a meeting between US President Donald Trump\nand President Xi Jinping was also announced.<\/p>\n
In line with this, stock exchanges in the region also entered the red\nzone. The ASX200 fell the most at -1.51%, followed by HSI -0.87%, Taiwan\n-0.79%, and Nikkei -0.19%.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ihsg-plummets-2-86-commodity-stocks-tumble-1778237746", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }