IDX Opens Up 0.76%, Supported by BYAN and Haji Isam-Affiliated Stocks
The Indonesia Composite Index (IHSG) opened stronger in trading on Friday (18/9/2026), supported by gains in several coal stocks and entities affiliated with the businessman Haji Isam.
According to IDX Mobile data, the IHSG rose by 49.07 points or 0.76% at the market opening to the 6,511.50 level. The index briefly touched a high of 6,521.02 and a low of 6,506.72 during early trading.
A total of 280 stocks strengthened, 129 stocks weakened, and 554 stocks remained stagnant. Transaction value reached approximately Rp363.5 billion, with a trading volume of 555.9 million shares.
The IHSG’s strength was partly supported by a surge in PT Bayan Resources Tbk (BYAN) shares. BYAN shares were recorded soaring 19.96% to Rp13,825.
The increase in BYAN occurred after the company announced plans to transfer approximately 10 billion shares owned by the founder and controller, Low Tuck Kwong, and his daughter, Elaine Low, to PT Jhonlin Baratuna, a company that is part of the Jhonlin Group owned by Haji Isam.
In addition to BYAN, several stocks related to the Haji Isam business group also moved higher at the start of trading. Shares of PT Jhonlin Agro Raya Tbk (JARR) rose 5.49% to Rp4,420, PT Dana Brata Luhur Tbk (TEBE) rose 16.03%, and PT Pradiksi Gunatama Tbk (PGUN) rose 8.96%.
Pressure in the Indonesian financial market has the potential to ease slightly during Friday’s trading. Several external indicators have begun to provide room for risky assets, following a decline in oil prices and US Treasury yields, while Wall Street managed to rebound during Thursday’s session.
Wall Street closed higher, with the Dow Jones rising 0.61%, the S&P 500 gaining 1.14%, and the Nasdaq Composite jumping 1.69%. This strengthening occurred alongside falling Treasury yields and oil prices, although markets continue to monitor the direction of Federal Reserve policy and geopolitical developments in the Middle East.
Brent crude prices also corrected by approximately 1% to US$104.82 per barrel, while WTI oil fell to US$101.91 per barrel. Nevertheless, oil prices remain above US$100 per barrel as the risk of supply disruptions from the Middle East conflict remains high.
The market continues to closely monitor the escalation of the conflict between Saudi Arabia and the Iran-backed Houthi group. Both sides engaged in attacks again on Thursday, increasing concerns regarding energy trade routes in the region.
Ship traffic through the Strait of Hormuz also dropped sharply, with only three commercial vessels recorded passing through on Wednesday, compared to a 10-day average of 17 ships.
On the other hand, US jobless claims fell to 196,000, lower than the expected 208,000, indicating that the US labour market remains relatively strong. This condition is a point of interest for investors as it may influence expectations regarding the direction of Federal Reserve monetary policy.
From Europe, the Bank of England (BoE) maintained interest rates at 3.75%, even though UK inflation rose to 3.1% in August. The BoE also highlighted the risk of rising energy prices due to the Middle East conflict.
Meanwhile, market attention in Asia is focused on Japan. August inflation data will be released this morning before the Bank of Japan (BoJ) announces its interest rate decision. The market expects the BoJ to raise interest rates by 25 basis points to 1.25%. This decision has the potential to influence the movement of the yen, Japanese bonds, and the flow of Japanese investor funds in the global market.
Domestically, the stock market also has the potential to respond to the major corporate action at PT Bayan Resources Tbk (BYAN). BYAN founder Low Tuck Kwong and his daughter, Elaine Low, have signed a conditional sale and purchase agreement with PT Jhonlin Baratama, part of the Jhonlin Group owned by Haji Isam, for the transfer of approximately 10 billion BYAN shares.