7 HSC-Labelled Stocks Plunge Today, 2 Shine Brightly

Jakarta, CNBC Indonesia - The Financial Services Authority (OJK), together with the Indonesia Stock Exchange (BEI) and the Central Securities Depository (KSEI), has released data on High Shareholding Concentration (HSC).

This disclosure of data aims to increase transparency and investor confidence in the capital market by presenting a list of issuers where share ownership is dominantly concentrated in the hands of a few parties.

Based on the methodology for determining ownership structure as of 31 March 2026, there are nine issuers that record single ownership above 95%.

When correlated with their price movements based on trading data monitored today at 10:00 WIB, these high-concentration stocks tend to show sharp volatility, with the majority in negative territory.

Here is the list of the nine stocks with ownership concentration over 95%, along with their price movements:

[Note: The original article includes a table or list of stocks, which is not detailed in the provided text beyond examples.]

Limited Liquidity Correlation and Price Volatility Risk

Trading data shows that seven out of the nine stocks on the HSC list faced selling pressure. PT Satria Mega Kencana Tbk (SOTS) recorded the deepest correction at 14.58%, followed by PT Rockfields Properti Indonesia Tbk (ROCK) which fell 13.06%, and PT Abadi Lestari Indonesia Tbk (RLCO) which weakened 12.60%.

On the other hand, only two stocks moved higher, namely PT Ifishdeco Tbk (IFSH) by 11.42% and PT Lima Dua Lima Tiga Tbk (LUCY) by 9.76%.

This highly fluctuating price dynamic is closely linked to the minimal free float portion in these issuers.

With ownership concentration above 95%, stock liquidity in the secondary market becomes very limited because control of supply lies in the hands of controlling shareholders. This condition causes the supply and demand mechanism to not function as it does for stocks with more evenly distributed ownership.

The limitation in transaction volume gives rise to risks that investors need to heed. A centralised ownership structure allows a transaction with relatively small value and volume to trigger sharp price movements.

Therefore, price formation in HSC issuers tends to be vulnerable to turbulence and is often influenced by the minimal liquidity space on the exchange.