IHSG and Rupiah Weaken Simultaneously at the Weekend Close

The Jakarta Composite Index (IHSG) closed down 1.88 per cent at 6,196 in Friday’s trading session, 24 July 2026. A total of 104 stocks advanced, 587 declined, and 105 were unchanged.

Trading volume reached 37.9 billion shares with a transaction value of Rp 17.7 trillion, while the number of transactions totalled 2.25 million.

“After briefly breaking through the 6,400 level intraday this week, the IHSG weakened on Friday due to negative sentiment from rising crude oil prices that triggered profit-taking,” wrote the Phintraco Sekuritas research team in its review on Friday, 24 July 2026.

Beyond the rise in oil prices, another negative sentiment was the imposition of a 10 per cent import tariff by the United States on products from Indonesia.

The import tariff policy also affected the rupiah’s exchange rate movement. The Garuda currency closed weaker at Rp 17,963 per US dollar. Ibrahim Assuaibi, Director of PT Traze Andalan Futures, said the new tariff was set after the expiry of a temporary tariff policy previously in force for 150 days.

In addition, escalating conflict in the Middle East has the potential to pressure Indonesia’s external performance, from a widening current account deficit to pressure on the rupiah’s exchange rate in the third quarter of 2026. Ibrahim said crude oil prices had risen above the state budget (APBN) target. “As a result, the government will need to add US dollars to cover that deficit,” he said in a written statement on Friday, 24 July 2026.

Ibrahim also highlighted Indonesia’s trade balance, which recorded a deficit of US$1.61 billion in May 2026 — the first deficit after 72 consecutive months of surpluses.