IDX Composite Drops 1%, Here Are the Causes
The Indonesia Composite Index (IHSG) plummeted by 1%, correcting 62.19 points to the 6,179.71 level as of 10:27 WIB. This weakness continues a negative trend from the opening position of 6,209.75, after having briefly touched a daily high of 6,227.90 during the early trading session.
According to Refinitiv, the decline in the IHSG was caused by the academic services and education sector dropping by 4.6%, followed by a weak performance in the consumer staples sector at -3.2%, and the technology sector at -1.8%.
Shares weighing down the IHSG during the mid-session of the first session this morning included PT GoTo Gojek Tokopedia Tbk (GOTO), PT Bank Central Asia Tbk (BBCA), PT Mora Telematika Indonesia Tbk (MORA), PT Fortune Indonesia Tbk (FORU), and PT Telkom Indonesia Tbk (TLKM).
Meanwhile, shares supporting the IHSG included PT Dian Swastatika Sentosa Tbk (DSSA), PT Impack Pratama Industri Tbk (IMPC), PT Energi Mega Persada Tbk (ENRG), PT Sumber Alfaria Trijaya Tbk (AMRT), and PT Adaro Andalan Indonesia Tbk (AADI).
This decline in the IHSG follows the Indonesia Stock Exchange’s (BEI) decision to remove the minimum trading price for stocks in the regular and cash markets. Starting Monday, 28 September 2026, the lowest share price, previously set at Rp50 per share, will be reduced to just Rp1 per share.
This policy allows stocks that have previously been at the Rp50 level to be traded at lower prices. This change applies through the trading mechanisms in both the regular and cash markets.
In conjunction with this, the BEI is also adjusting the Auto Rejection (AR) limits for Equity Securities and Infrastructure Investment Funds (DINFRA) traded in the regular and cash markets.
The primary adjustment involves changing the minimum price limit from the original Rp50.00 to Rp1.00. This adjustment to the minimum price limit is accompanied by corresponding adjustments to the applicable Auto Rejection limits.
“With this change, stocks previously at the Rp50.00 price can be traded within a wider price range to improve the quality of price discovery, encourage increased liquidity, and provide market participants with greater flexibility in managing their investment portfolios,” as quoted from an official statement by the BEI on Monday, (21/9/2026).
This regulatory change is governed by two Board of Directors’ Decrees (SK) from the BEI. Both were issued today and will come into effect on Monday, 28 September 2026.
Furthermore, the Auto Rejection Upper (ARA) and Auto Rejection Lower (ARB) provisions applicable until 31 December 2026 will maintain an asymmetric ARB of 15% for Equity Securities with prices above Rp10.
Meanwhile, in line with the adjustment of the minimum price limit to Rp1, for securities with a price range of Rp1 to Rp10, the ARA and ARB limits are set at Rp1. Subsequently, starting 1 January 2027, ARB provisions will return to a symmetric application based on the price range.