IDX Composite Plummets in Morning Session as Rupiah Approaches Rp18,000
The Indonesia Stock Exchange (IDX) Composite faced intense pressure during the first trading session on Wednesday (3/6/2026). The index closed significantly lower by 305.94 points, or 4.94%, to the 5,889.48 level. This situation was triggered by a combination of negative domestic sentiment and global uncertainty.
Capital market observer Elandry Pratama explained that this significant weakening was caused by investors beginning to reduce exposure to risky assets (risk-off) and shifting funds into assets considered safer (safe havens). “The pressure was quite widespread, particularly on large-cap stocks that hold a dominant weight in the index, so the decline had a significant impact on the IDX Composite today,” Elandry stated in Jakarta.
From a domestic perspective, Elandry highlighted the movement of the Rupiah, which continues to weaken towards the level of Rp18,000 per US Dollar. This condition has increased market concerns regarding national macroeconomic stability and the potential for massive capital outflows. In addition to the fundamental exchange rate factors, technical aspects also exacerbated the situation. “Technical pressure due to the breach of support levels also accelerated selling actions in the market,” he added.
On the international stage, increasing global economic uncertainty has prompted foreign investors to adopt a ‘wait and see’ approach. The market’s primary focus is currently directed towards exchange rate stability, the direction of global interest rates, and the future prospects of Indonesia’s economic growth.
Based on data from the Indonesia Stock Exchange (IDX) up to the close of the first session on Wednesday afternoon: 714 stocks experienced price declines, while only 35 stocks strengthened, and 64 others remained stagnant.
Elandry projected that the IDX Composite could remain volatile in the short term as exchange rate factors and global sentiment remain dominant. However, the opportunity for a technical rebound remains open if selling pressure eases and foreign fund flows show signs of stabilisation. “Investors should focus on stocks with strong fundamentals and maintain risk management amidst market conditions that remain sensitive to external sentiments,” he concluded.