IHSG Falls 0.31% in Morning Session After S&P Warning, Earlier Plunging Over 100 Points

Jakarta – Indonesia’s composite stock index (IHSG) closed slightly weaker in the morning trading session on Friday, 27 February 2026, declining 25.933 points or 0.31% to 8,209.329.

At the start of trading, the IHSG plummeted 133.85 points to 8,102.41 at 09.10 WIB, before gradually recovering from the decline.

The IHSG weakness followed a warning from global ratings agency S&P Global Ratings, which cautioned that surging debt servicing costs could increase risks of a downgrade to Indonesia’s sovereign credit profile.

Selling pressure drove the IHSG to touch the daily low of 8,093.749, before subsequently paring losses and moving towards the 8,220 level.

The highest position for the day was recorded at 8,219.709.

A total of 239 shares advanced, whilst 420 shares declined and 156 shares remained unchanged.

Trading activity was quite brisk with volume reaching 26.489 billion shares and transaction frequency at 1,505.039 times.

Transaction value or turnover stood at Rp 11.261 trillion.

S&P Global Ratings warned that surging debt servicing costs could increase risks of a downgrade to Indonesia’s sovereign credit profile.

Sovereign analyst at S&P, Rain Yin, disclosed that government debt interest payments may have already exceeded the critical threshold of 15% of total state revenue last year.

Over the years, this level has been the consistent safe boundary that Indonesia has maintained as an indicator of fiscal prudence.

Should the ratio of interest payments to revenue remain above 15% on a sustained basis, S&P has opened space to adopt a more negative view on Indonesia’s credit rating.

“Two matters we monitor very carefully are the medium-term fiscal framework, whether it continues to be supported by established fiscal rules, and developments in state revenue,” said Yin as quoted by Bloomberg on Friday, 27 February 2026.

Currently, S&P continues to maintain a stable outlook for Indonesia’s rating at BBB level.