IHSG Closes Down 4.94% After Dropping as Much as 5.13% During Midday Session

The Indonesia Composite Index (IHSG) closed the first trading session on Wednesday (3/6/2026) down 4.94% at the 5,889.48 level. During today’s trading, the IHSG had even plummeted as much as 5.13%.

A total of 752 stocks declined, 169 remained stagnant, and only 38 stocks strengthened. Transaction frequency reached 1.76 million times, with a trading volume of 23.51 billion shares, valued at Rp14.86 trillion.

Several conglomerate stocks that previously supported the IHSG became the primary drags on today’s trading. Amman Mineral (AMMN), which dropped to its lower auto-rejection (ARB) limit of -14.91%, contributed -17.62 points to the IHSG’s decline. Furthermore, two stocks from Prajogo Pangestu’s empire, Barito Renewables Energy (BREN) and Barito Pacific (BRPT), contributed a combined -20.75 points. Similarly, major banking stocks such as Bank Central Asia (BBCA) and Bank Rakyat Indonesia (BBRI) contributed -16.39 points and -15.68 points, respectively.

In yesterday’s trading, domestic investors managed to support the IHSG despite a foreign net sell of Rp 1.39 trillion, allowing the index to close up 1.1%. Currently, foreign capital continues to flow out of the Indonesian capital market following the effective MSCI rebalancing as of 1 June 2026.

Hans Kwee, Co-Founder of PasarDana and capital market practitioner, noted that there is potential for further downward pressure, particularly on stocks removed from the MSCI Global Standard Index and the MSCI Small Cap Index. “Following this MSCI rebalancing, this could potentially be the bottom of the IHSG’s decline, providing an opportunity for a recovery based on future company fundamentals,” he said.

He added that capital market reforms by the OJK and SROs have successfully enhanced the transparency, credibility, and integration of the Indonesian capital market, thereby increasing both local and foreign investor confidence.

Meanwhile, the Rupiah exchange rate weakened further during Wednesday’s trading. According to Refinitiv data, as of 11:00 WIB, the Rupiah depreciated by 0.4% to the level of Rp17,925/US.Thislevelrepresentsanewall − timelowfortheRupiahagainstthegreenback.HavingbreachedthepsychologicallevelofRp17, 900/US, the Rupiah is now approaching the next psychological threshold of Rp18,000/US$.