Breaking News! IHSG Falls 3.64%, Back to Around 6,000

Jakarta, CNBC Indonesia — The Jakarta Composite Index (IHSG) fell again during Thursday afternoon trading (21 May 2026), moving further away from the psychological level of 6,100. By around 13:35 WIB, the IHSG had fallen 3.64% to 6,088.22. This weakness extended the pressure seen since the morning session opened. The IHSG briefly touched the intraday low of 6,083.69, well below the previous close of 6,318.50. The intraday high recorded was 6,378.81 before selling pressure intensified. Total turnover across the market had reached Rp10.74 trillion with a trading volume of 20.86 billion shares and a trading frequency of 1.38 million. The majority of stocks were in the red, with 673 down, 100 up, and 186 unchanged. Selling pressure appeared broadly across sectors, particularly big-cap and conglomerate stocks that previously supported IHSG’s movement. Technically, the level 6,100, previously a key support area, has now been breached, opening the potential for further weakness if market sentiment does not improve. Market participants remain haunted by global uncertainty, outflows of foreign funds, and increasingly aggressive profit-taking amid high market volatility. Chief Investment Officer of Danantara Indonesia, Pandu Sjahrir, spoke about the IHSG slump today, noting movement around the 6,100 area after previously slipping more than 2%. Pandu admitted that one driver of the IHSG’s weakness this morning was investor sentiment regarding the establishment of a state-owned export-focused company, namely PT Danantara Sumberdaya Indonesia alias PT DSI. According to him, investors are still grappling with the details of PT DSI, whose operations are scheduled to commence officially in June 2026. Therefore, Pandu issued a special message to investors at the Indonesia Stock Exchange (BEI) that the government will not ignore the interests of market participants tied to export activity. He said the agency would operate in accordance with market needs. “God willing, it will be fine; we will surely see the market, the market is important, and we are optimistic as soon as possible,” Pandu asserted. Finance Minister Purbaya Yudhi Sadewa had previously also addressed the IHSG’s decline today. The 2% fall in IHSG has been publicly linked to the presence of the export-dedicated state-owned enterprise, PT DSI. According to Purbaya, the underlying issue was more due to traders’ lack of understanding of the actual benefits of the export-focused state-owned enterprise that was formed by President Prabowo Subianto. “Perhaps they do not yet know the actual impact. The market tends to fear and sell first when there is uncertainty,” Purbaya said when approached at the Coordinating Ministry for Economic Affairs complex in Jakarta on Thursday (21 May 2026). Purbaya said that once traders understand the true benefits of the presence of the export-focused SOE, IHSG should rebound in the near term. “But if they come to understand the real impact, it should rise,” he stressed. (mkh/mkh)