Analyst: IHSG Under Pressure as US-Iran Tensions Trigger Investor Risk-Off Sentiment

Jakarta (ANTARA) - Capital market observer Elandry Pratama stated that the weakening of the Jakarta Composite Index (IHSG) was triggered by a risk-off attitude among some investors in response to escalating tensions between the United States and Iran. The IHSG was recorded down 27.98 points, or 0.47 percent, to 5,874.38 in trading at 15.00 WIB on Thursday (11/06). “Looking at today’s movement, the IHSG’s decline is mostly influenced by a combination of external and domestic factors. Externally, the market is still watching geopolitical conflicts that are heating up again, triggering a risk-off sentiment among some investors,” Elandry said in Jakarta on Thursday. Elandry explained that market participants also tended to wait and see regarding several important global agendas, especially the Federal Reserve’s FOMC meeting on 17 June 2026, which could potentially influence the direction of global interest rates and capital flows into emerging markets. Meanwhile, domestically, he mentioned that market participants were also responding to the issue of planned mass demonstrations, which could potentially increase investor caution in the short term. “There is still a view that various measures taken by the government and authorities to maintain rupiah stability are not yet strong enough to fully restore market confidence, so pressure on the rupiah remains a concern for investors,” Elandry said. Over the next two weeks, Elandry explained that market participants were also awaiting several important agendas that could potentially increase volatility, including the MSCI Accessibility Review on 18 June and the BI Rate decision at the Bank Indonesia Board of Governors Meeting on 18–19 June. “As well as the MSCI Market Classification Review on 23 June, which will again be in the spotlight for foreign investors regarding the status of the Indonesian capital market,” Elandry said. Regarding future projections, Elandry said it was necessary to look at the important support area for the IHSG, where as long as the index remains able to hold above the 6,000 area, the current correction can still be categorised as a reasonable consolidation after the previous rally. “However, in the short term, volatility has the potential to remain high until the market gets clarity from these various agendas,” Elandry said. From abroad, CENTCOM announced a new wave of attacks on Iran on the instructions of United States President Donald Trump. Trump again warned that Iran would “pay a price” if it continued to delay a peace deal, while Iran emphasised it would retaliate against any threat or attack it received. Additionally, Trump claimed the US had carried out a “secret mission” to help more than 200 commercial vessels pass through the Strait of Hormuz and deliver over 100 million barrels of oil to the global market. Concurrently, Iran’s supreme joint military command announced the closure of the Strait of Hormuz on Thursday (11/06), affecting oil tankers and commercial ships. Meanwhile, trading data on the Indonesia Stock Exchange (BEI) on Thursday (11/06) at 15.00 WIB showed the IHSG down 27.98 points or 0.47 percent to 5,874.38. Share trading frequency was recorded at 2,006,826 transactions with a total of 27.84 billion shares traded worth IDR 17.37 trillion. A total of 231 shares rose, 446 declined, and 137 remained unchanged.