{ "success": true, "data": { "id": 1733103, "msgid": "reasons-behind-ihsgs-sudden-1-drop-after-opening-up-1-1778559380", "date": "2026-05-12 09:39:57", "title": "Reasons Behind IHSG's Sudden 1% Drop After Opening Up 1%", "author": "", "source": "CNBC", "tags": "", "topic": "Finance", "summary": "The Jakarta Composite Index (IHSG) reversed course sharply on Tuesday, plummeting 1.07% to 6,831.84 just 15 minutes after opening with a 1% gain, primarily dragged down by the technology sector and shares like PT Mora Telematika Indonesia Tbk (MORA), which hit its lower auto-reject limit. Market participants adopted a wait-and-see approach ahead of the MSCI review announcement, fearing a potential reduction in Indonesia's weight in the global index that could trigger foreign fund outflows, though regulators view ongoing capital market reforms as short-term pain for long-term gains. Global factors, including a strengthening US dollar and geopolitical tensions involving Iran, further pressured emerging markets, with the rupiah weakening to a historic low of Rp17,500 per US dollar.", "content": "

Jakarta, CNBC Indonesia \u2014 The Composite Stock Price Index (IHSG)\nsuddenly reversed direction after 15 minutes of opening today, Tuesday\n(12\/5\/2026). At the opening, the IHSG surged strongly and even rose 1%\nat one point. However, by 09:16, the IHSG turned around and plunged to\nthe level of 6,831.84, or down 1.07%. On a sectoral basis, the\ntechnology sector became the biggest drag with a correction of 3.43%,\nfollowed by utilities -2.85%, primary consumer -1.46%, healthcare\nweakening 1.44%, and non-primary consumer down 0.84%. From the stock\nperspective, PT Mora Telematika Indonesia Tbk (MORA) became the biggest\nweight on the IHSG with a contribution to the decline of 24.2 index\npoints. MORA shares initially surged strongly with an increase of more\nthan 15% and became the main driver of the IHSG. However, not long\nafter, MORA plummeted to touch the lower auto-reject limit (ARB) of 15%\nat the level of 7,650. Next, there is PT Bank Central Asia Tbk (BBCA)\nwhich pressured the index by 7 points, PT Barito Renewables Energy Tbk\n(BREN) by 5.9 points, and PT Astra International Tbk (ASII) by 4.99\npoints. Big-cap banking shares also uniformly entered the red zone. PT\nBank Mandiri (Persero) Tbk (BMRI) pressured the IHSG by 3.91 points,\nwhile PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) contributed to the\nweakening by 3.14 points. Market participants tended to engage in\nselling actions and a wait-and-see stance ahead of the MSCI review\nannouncement scheduled for today. The market is concerned that Indonesia\nmay experience another reduction in weight in the global MSCI index,\nwhich could trigger an outflow of foreign funds. Ahead of the\nannouncement, regulators to market participants unanimously assess that\nIndonesia\u2019s capital market reforms do have the potential to trigger\nshort-term pressure, but are believed to have a positive impact in the\nlong term. Chairman of the Financial Services Authority (OJK) Board of\nCommissioners Friderica Widyasari Dewi said that they are still awaiting\nthe MSCI announcement results, while emphasising that the capital market\nreform steps taken by the regulator are part of efforts to strengthen\nmarket integrity. \u201cEven if there is short-term adjustment, we see this\nas short-term pain. But Insya Allah long-term gain,\u201d said Friderica at\nthe Indonesia Stock Exchange (BEI) Building, Monday (11\/5\/2026). The\nIndonesia Stock Exchange acknowledges the potential for a decline in\nIndonesia\u2019s weight in MSCI in the short term if no new stocks enter the\nindex. \u201cIf that is done by MSCI and no new stocks enter MSCI, in the\nshort term Indonesia\u2019s weight may decline. But that is short-term pain\nfor long-term gain,\u201d said Jeffrey. BEI emphasised that capital market\nreforms will continue, including encouraging an increase in issuers\u2019\nfree float to meet global standards. In addition to domestic factors,\nglobal sentiment is still weighing on emerging markets after the\nstrengthening of the US dollar and the rise in US government bond\nyields, making investors tend to reduce exposure to risky assets.\nAlthough the IHSG is under pressure, several stocks still serve as\nsupports for the index. PT Merdeka Gold Resources Tbk (MDKA) became the\nmain driver with a contribution to the increase of 2.58 index points.\nFollowed by PT Dian Swastatika Sentosa Tbk (DSSA), PT Chandra Asri\nPacific Tbk (TPIA), and PT Pacific Strategic Financial Tbk (APIC).\nMeanwhile, the rupiah exchange rate started trading this morning at a\nhistoric weakening level as it has reached Rp17,500\/US.R<\/em>e<\/em>f<\/em>e<\/em>r<\/em>r<\/em>i<\/em>n<\/em>g<\/em>t<\/em>o<\/em>R<\/em>e<\/em>f<\/em>i<\/em>n<\/em>i<\/em>t<\/em>i<\/em>v<\/em>d<\/em>a<\/em>t<\/em>a<\/em>,\u2006t<\/em>h<\/em>e<\/em>G<\/em>a<\/em>r<\/em>u<\/em>d<\/em>a<\/em>c<\/em>u<\/em>r<\/em>r<\/em>e<\/em>n<\/em>c<\/em>y<\/em>e<\/em>x<\/em>p<\/em>e<\/em>r<\/em>i<\/em>e<\/em>n<\/em>c<\/em>e<\/em>d<\/em>a<\/em>w<\/em>e<\/em>a<\/em>k<\/em>e<\/em>n<\/em>i<\/em>n<\/em>g<\/em>t<\/em>o<\/em>t<\/em>h<\/em>e<\/em>l<\/em>e<\/em>v<\/em>e<\/em>l<\/em>o<\/em>f<\/em>R<\/em>p<\/em>17,\u2006500\/U<\/em>S<\/em><\/span>\nat 9:15 WIB. Where at the opening, the Rupiah opened in the red zone\nwith a weakening of 0.43% to the level of Rp17,480\/US$. The DXY at\nopening was also observed strengthening 0.21% to the position of 98.115.\nThis was triggered by US President Donald Trump who said the ceasefire\nwith Iran is now \u201con the brink\u201d after Tehran rejected Washington\u2019s\nproposal to end the war. Iran demands an end to the conflict on all\nfronts, including in Lebanon, compensation for war damage, lifting of\nthe US sea blockade, guarantees of no further attacks, and restoration\nof its oil exports. Tehran also emphasised its control over the Strait\nof Hormuz, a route that usually carries around 20% of the world\u2019s oil\nand gas supply. Trump called Iran\u2019s response \u201ccompletely unacceptable\u201d\nand said the ceasefire in effect since 7 April is now very fragile. Iran\nasserts its demands are legitimate, while Parliament Speaker Mohammad\nBaqer Qalibaf warned that Iran\u2019s military is ready to respond to any\naggression.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/reasons-behind-ihsgs-sudden-1-drop-after-opening-up-1-1778559380", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }