Jakarta, CNBC Indonesia \u2014 Volatility in the Jakarta Composite Index\n(IHSG) was very high this morning, Friday (19\/6\/2026). The IHSG\ninitially rose 0.5% to 6,215.06 at the start of trading, but then\nunderwent a correction of a similar percentage a few minutes later. As\nof 10:20 WIB, the IHSG was still holding above the 6,100 level. The\nIHSG\u2019s volatility was overshadowed by MSCI sentiment. Although\nIndonesia\u2019s status remains in the Emerging Market category, MSCI\nassessed the information flow of the domestic stock market with a\nnegative status.<\/p>\n
Meanwhile, a number of stocks managed to stay in the green zone amid\nthe turmoil. Based on trading data, shares of PT Merdeka Gold Resources\nTbk (EMAS) strengthened 8.1% to 675. Then, shares of PT Singaraja Putra\nTbk (SINI) rose 4.74% or 475 points to 10,500, while shares of PT\nPradiksi Gunatama Tbk (PGUN) surged 5.65% to 7,950.<\/p>\n
Consumer sector stocks also helped support market movement. PT Gudang\nGaram Tbk (GGRM) rose 2.87% or 450 points to 16,150. Other stocks moving\ninto the green included PT Cardig Aero Services Tbk (CASS), which\nrecorded a 12.07% increase or 210 points to 1,950, while shares of PT\nMerdeka Copper Gold Tbk (MDKA) strengthened 6.99% or 200 points to\n3,060. Additionally, PT Daaz Bara Lestari Tbk (DAAZ) surged 11.40% or\n200 points to 1,955. Shares of PT Aesler Grup Internasional Tbk (RONY)\neven soared 16.67% or 180 points to 1,260.<\/p>\n
For context, MSCI released its Global Market Accessibility Review\nearly this morning. In the annual evaluation report, the accessibility\nof Indonesia\u2019s equity market officially recorded a deterioration in the\ninformation flow criteria. Based on the summary rating table in the\ndocument, the rating for the Information Flow criteria for Indonesia was\ndowngraded from a positive rating without major issues in 2025 to a\nnegative rating indicating an urgent need for improvement in 2026. This\naccessibility downgrade was triggered by findings of structural problems\nrelated to a lack of clarity in share ownership structures in the\ndomestic capital market.<\/p>\n
Furthermore, the global evaluation also highlighted indications of\ncoordinated trading behaviour on the Indonesian bourse, which is\ndirectly assessed as damaging the fair price formation process in the\nregular market. These practices, which limit the level of transparency,\nare seen as materially restricting the ability of international\ninstitutional investors to assess the real amount of shares circulating\nin the public (true free float). This condition also hinders foreign\ninvestors from being able to rely on objectively observed market prices\nin their portfolio construction and index replication processes.<\/p>\n
Moreover, the evaluation report also noted that the criteria for\nEqual Rights to Foreign Investors remain hampered. This is because\ndetailed information related to corporate actions and domestic stock\nmarket dynamics is not always readily available in English.\nNevertheless, Indonesia\u2019s operational framework in other aspects remains\nrelatively stable, with a very good rating maintained for the criteria\nof custody infrastructure, registration, trading mechanisms, and the\nrelaxation of foreign ownership limits. Although the trading\ninfrastructure is systemically considered very adequate, the sharp focus\non ownership transparency and price formation integrity will trigger a\nre-evaluation by various global index fund managers, potentially causing\nadjustment volatility pressure on foreign capital flow weights for\nlarge-capitalisation stocks throughout today\u2019s trading session.<\/p>\n
Despite the changes, the Indonesia Stock Exchange (BEI) has already\nmade improvements in terms of information transparency provided to both\ndomestic and foreign investors. The BEI has opened up share ownership\ndata above 1%, released HSC data, and carried out various structural\nimprovements on the exchange.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ihsg-volatile-these-stocks-soar-instead-1781844673", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }