IDX Changes Approach to Tackling Share Manipulation, Targeting Perpetrators’ Accounts

Jakarta, CNBC Indonesia — Capital-market regulators are stepping up efforts to combat share-trading manipulation. The Indonesia Stock Exchange (IDX) has prepared a fundamental change to its surveillance of share trading in the capital market.

IDX chief executive Jeffrey Hendrik said the exchange would no longer suspend shares at the transaction level, but would instead target the accounts of parties suspected of manipulation. He said share suspensions had disrupted market liquidity.

“Out of 1,000 or 2,000 parties making transactions, perhaps only five are attempting to manipulate the market. If we suspend the shares, everyone is affected,” he said at the Kearney 100 Years of Impact event at The Ritz-Carlton Pacific Place in Jakarta on Wednesday (28 October 2026).

This means the IDX will focus on the perpetrators by suspending accounts, rather than suspending individual shares or the market.

The aim is for Indonesia’s capital-market industry to become more transparent and credible, with better governance, and to regain the trust investors are believed to have lost.

“We hope that in the future our market will be more transparent and credible, and have better governance, so that we can regain the trust that has been felt to be lost in our market,” he said.