Breaking News! IHSG Reverses Direction, Rises 1%

Jakarta, CNBC Indonesia — The Jakarta Stock Exchange Composite Index (IHSG) rose more than 1% ahead of the close on Friday (22 May 2026), after sliding early and breaking through the psychological 6,000 level at the start of trading.

At 16:50 WIB, the IHSG added 1.19% or 72.31 points to 6,167.25. The index had touched an intraday low of 5,966.86 before reversing course and climbing to an intraday high of 6,171.97 ahead of the close.

Market turnover reached Rp18.58 trillion with a trading volume of 35.46 billion shares and 1.89 million trades. A total of 441 stocks rose, 288 fell, and 230 were unchanged. The market capitalisation of the Indonesia Stock Exchange (BEI) stood at Rp10.633 trillion.

Analyst Herditya of MNC Securities said, technically, the IHSG remains in a downtrend. The initial pressure came from MSCI rebalancing which caused large-cap shares to be shunned by investors.

Similarly, Doo Financial analyst Lukman Leong said the same—the MSCI rebalancing effect is still being felt and continues to trigger selling pressure from global investors.

The rupiah remained relatively weak, causing foreign investors to be more cautious about Indonesian assets, so the IHSG lagged behind other Asian exchanges.

In addition, investors are also digesting plans to export strategic commodities via PT Danantara Sumberdaya Indonesia, which raises concerns about regulatory uncertainty or state control over the private sector. The government’s plan to centralise exports through a single body has drawn attention from rating agencies.

S&P Global Ratings warned that the policy could pose risks to exports, government revenue and Indonesia’s balance of payments. “These factors create greater risks of a downgrade to Indonesia’s rating,” S&P wrote, quoted by Reuters on Thursday (21 May 2026). S&P also noted investments could be affected if changes reduce business confidence and investment sentiment.

Moody’s, meanwhile, said the export centralisation plan could support a flow of foreign currency but may also increase market distortions and weigh on investor sentiment.