IHSG Closes Up 0.22%, Supported by Three Key Stocks
Jakarta, CNBC Indonesia — The Composite Stock Price Index (IHSG) nearly closed in negative territory during trading on Monday (4/5/2026).
The IHSG surged strongly at the start of trading today, rising by more than 1%. However, by the end of session 1, the IHSG’s gains were trimmed to 0.31%.
At the beginning of session 2, the IHSG briefly dipped into negative territory but managed to rebound. Towards the end of session 2, the IHSG corrected to the level of 6,946.06.
Ultimately, the IHSG closed higher by 0.22% or 15.15 points at 6,971.95. A total of 376 stocks declined, 340 rose, and 243 remained unchanged.
Trading value today was notably brisk at Rp21.03 trillion. However, this included Rp5.24 trillion in transactions for Pinago Utama (PNGO) shares via the negotiated market.
The IHSG’s heavy movement today was overshadowed by GOTO shares. The online ride-hailing company’s stock fell 5.56% to 51 and was a major drag on the IHSG.
Meanwhile, three stocks were the main drivers: Telkom Indonesia (TLKM) contributing 8.35 points, Bank Rakyat Indonesia (BBRI) 7.84 points, and Barito Renewables Energy (BREN) 5.16 points.
The correction in GOTO shares came alongside President Prabowo Subianto’s signing of Presidential Regulation No. 27 of 2026 on the Protection of Online Transport Workers. One key point in the regulation is the revenue sharing between platform operators and drivers.
“I have signed Presidential Regulation No. 27 on the Protection of Online Transport Workers. As I mentioned earlier, they must be provided with work accident guarantees, BPJS Health, and health insurance,” Prabowo stated.
Additionally, Deputy Speaker of the DPR Sufmi Dasco Ahmad noted that the government has entered the shares of online ride-hailing platforms through Danantara. However, Dasco did not specify which ride-hailing platforms were involved.
The IHSG also faced pressure from the weakening rupiah. According to Refinitiv data, the rupiah ended trading in negative territory, weakening by 0.35% to Rp17,365/US$. This position marks the weakest closing level for the rupiah on record.
With today’s weakening, the rupiah has now declined for four consecutive trading days.
In other developments, the Central Statistics Agency (BPS) released the latest economic data. Indonesia’s trade balance in March 2026 showed a surplus of US$3.32 billion, up from US$1.27 billion in February 2026.
This surplus was driven by exports valued at US$22.53 billion, up 3.10% from the same period last year, while imports stood at US$19.21 billion, growing 1.51%.
Notably, this is the 70th consecutive month of surplus since May 2020.
Investors continue to weigh tensions between Iran and the United States (US), as well as the US plan to reopen shipping lanes in the Strait of Hormuz.
Citing CNBC International, the US is still working to free ships stranded due to the closure of the Strait of Hormuz since the Iran war began. This statement was made by US President Trump in a post on Truth Social on Sunday (3/5/2026).
The effort is called “Project Freedom”, scheduled to begin on Monday in Middle East time. Its main focus is to evacuate civilian ships flagged by non-conflict countries from the disputed waters so they can resume business activities freely and smoothly.
“US military support for Project Freedom will include guided-missile destroyers, more than 100 land- and sea-based aircraft, multi-domain unmanned platforms, and 15,000 military personnel,” said the US Central Command shortly after Trump’s announcement, quoted on Monday (4/5/2026).
For context, oil prices fell after the “Project Freedom” announcement. The July West Texas Intermediate (WTI) futures contract dropped 0.59% to US$101.34 per barrel at 19:38 ET. The Brent crude futures contract fell 0.27% to US$107.88 per barrel.