IHSG Closes Lower at 6,101, Weighed Down by Global Tech Stock Correction
The Indonesian Composite Index (IHSG) on the Indonesia Stock Exchange (BEI) closed lower on Tuesday, pressured by a sell-off in technology stocks globally. The IHSG ended the day down 15.36 points, or 0.25 percent, at 6,101.33. Meanwhile, the LQ45 index of top 45 stocks fell 0.77 points, or 0.13 percent, to 598.43.
Phintraco Sekuritas Head of Research Ratna Lim stated that the sharp correction in global technology stocks was a negative sentiment. She explained the negative sentiment stemmed from corrections in Asian and global stock markets, driven by selling pressure on technology shares. Asian stock markets were recorded as weakening, with South Korea’s Kospi index, which had previously rallied on tech stocks, experiencing a 10 percent decline.
Domestically, investors are awaiting the MSCI market classification announcement on Wednesday, which will determine whether the Indonesian stock market remains in the Emerging Market category or is downgraded to Frontier Market status. Investors are also anticipating the results of a review by S&P Global Standards, scheduled for the end of June 2026, which will assign a rating to Indonesian government debt.
The IHSG opened lower and remained in negative territory through the close of the first trading session and continued in the red until the end of trading. Based on the IDX-IC sectoral indices, four sectors strengthened, led by the health sector which rose 3.84 percent, followed by the property and raw goods sectors which gained 1.21 percent and 0.52 percent, respectively. Six sectors weakened, with the financial sector falling the deepest at minus 1.55 percent, followed by the technology and energy sectors which fell 1.04 percent and 0.87 percent, respectively.
Stocks that experienced the largest gains included LEAD, BALI, PTPW, ENAK, and LAJU. Stocks that recorded the largest declines were ARKO, KIOS, CEKA, ZONE, and FLMC. Total trading frequency was recorded at 1,756,000 transactions, with 40.10 billion shares traded, amounting to a value of Rp32.97 trillion. A total of 294 stocks rose, 398 stocks fell, and 267 stocks remained unchanged.
In regional Asian markets, the Nikkei index fell 2,505.98 points, or 3.46 percent, to 69,848.00, the Shanghai index weakened 56.84 points, or 1.37 percent, to 4,106.25, and the Hang Seng index dropped 432.24 points, or 1.82 percent, to 23,336.28. The Straits Times index bucked the trend, gaining 1.73 points, or 0.03 percent, to 5,205.74.