IHSG Ends Lower as Rupiah Strengthens

The Jakarta Composite Index (IHSG) closed lower at the end of Wednesday’s trading session (20 May), finishing at 6,318.5, down 52.179 points (0.82%). The index moved between gains and losses, opening at 6,352.2 and briefly reaching a high of 6,459.5. The trading day saw the majority of stocks slide, with 197 advancing, 495 declining and 124 unchanged. Turnover totalled Rp21.67 trillion, while the traded volume reached 40.35 billion shares in more than 2.4 million trades. Separately, the rupiah strengthened against the US dollar, closing at Rp17,653.5 per USD, up 52 points or 0.29% from Rp17,705.5 per USD at the previous close on Tuesday. Deputy Speaker of the House Sufmi Dasco Ahmad, together with Danantara CEO Rosan Roeslani and OJK Commissioner Chair Friderica Widyasari Dewi, visited the Indonesia Stock Exchange (BEI) on Tuesday (19 May). Finance Minister Purbaya Yudhi Sadewa said the country’s economic foundations remain solid despite the IHSG’s weakness driven by global sentiment and US-Iran tensions.