IHSG Closes Weak on 26 February 2026 Due to US Import Tariffs
The Indonesian Composite Index (IHSG) of the Indonesia Stock Exchange (IDX) closed significantly weaker during Thursday (26 February 2026) trading. Negative sentiment was triggered by market participants’ concerns regarding United States (US) protectionist policy that imposed high import tariffs on several strategic products from Indonesia.
IHSG ended in the red zone with a correction of 86.97 points or 1.05 per cent to the position of 8,235.26. This weakness was also accompanied by the LQ45 index falling 5.18 points or 0.61 per cent to the level of 837.89.
Phintraco Securities Head of Research, Ratna Lim, revealed that this sharp correction was a direct reaction to the US Department of Commerce policy. Washington formally imposed tariffs on solar cells and panels imported from India, Indonesia, and Laos.
The US imposed a tariff of 104.38 per cent on solar cells and panel imports from Indonesia. This measure was taken because the solar panel industry in these three countries was considered to receive unfair subsidies from their respective governments.
Specifically, several Indonesian companies were affected by very high individual tariffs.
In addition to the solar panel issue, pressure on the Indonesian capital market also came from the plan by the US Trade Representative (USTR) to launch a Section 301 investigation. This investigation targeted Indonesian trading practices in the fisheries sector, particularly regarding industrial capacity and subsidies.
The findings of the investigation would later be compared with measures taken by Indonesia in meeting global commitments. The USTR would then make a decision regarding what type of additional tariffs should be applied. The US also planned to raise tariffs for several partner countries from 10 per cent to 15 per cent or higher.
Based on IDX-IC Sectoral Index data, all eleven sectors finished in the red zone. The transportation and logistics sector led the decline with a drop of 2.60 per cent.
This position was followed by the non-primary consumer goods sector and raw materials sector, each weakening 1.98 per cent and 1.74 per cent respectively. On the other hand, shares that still recorded the largest gains (top gainers) included MSKY, JAYA, DIVA, IFSH, and STAR.
Trading data recorded 3,102,000 transaction frequencies with a volume of 54.17 billion shares valued at Rp28.08 trillion. A total of 594 shares experienced price declines, 157 shares rose, and 207 other shares remained unchanged in value.
Today’s IHSG correction reflects the high sensitivity of the market to international trade issues, particularly those involving major trading partners such as the United States.