Hasan Fawzi Flags Persistent IHSG Decline: 'If It Stays Red, Something Is Wrong'
Jakarta, VIVA – The Executive Head of Capital Market, Derivatives, and Carbon Exchange Supervision at the Financial Services Authority (OJK), Hasan Fawzi, believes that the continuous weakening of the Indonesia Composite Index (IHSG) is a signal of problems that must be addressed immediately within the Indonesian capital market.
Hasan emphasised that the condition of the IHSG remaining in the ‘red zone’ cannot be considered a normal situation, especially as several stock exchanges in the regional area have begun to show signs of recovery.
“If it remains red continuously, there must be something wrong, and that is what we must address,” said Hasan Fawzi at the Indonesia Stock Exchange (BEI) building, Jakarta, on Tuesday, 30 June 2026.
This statement was made amidst the ongoing pressure shadowing the domestic stock market. At the close of trading on Tuesday afternoon, the IHSG stood at the 5,643.19 level, down 177.60 points or 3.05 per cent compared to the previous trading session.
OJK Promises to Fix Capital Market
Hasan stated that this condition represents a significant task for all regulators and stakeholders within the capital market industry.
According to him, the OJK, together with the Indonesia Stock Exchange (BEI) and other Self-Regulatory Organization (SRO) institutions, will undertake comprehensive improvements to ensure that investor confidence in the Indonesian capital market can increase once again.
“We will certainly work alongside Mr Jeffrey, other SROs, and all stakeholders to continue driving measurable and sustainable improvements,” he said.
He assessed that the capital market industry is currently entering a new era, where trust is the most critical factor in attracting investor interest. Therefore, improving governance and strengthening the capital market ecosystem are seen as steps that cannot be delayed.
Capital Market Must Serve as National Financing Engine
Hasan explained that Indonesia currently requires large amounts of financing to support various national development agendas. In such conditions, the capital market must be able to perform its strategic role as a source of long-term capital formation.
“This is where we believe we must return the capital market to its increasingly strategic central role, namely as the main driving engine for long-term capital formation, and as an investment hub to support national development financing and drive economic growth,” he said.