IHSG Falls 3.46 Percent as Analysts Flag BI Rate Rise

Jakarta — Research Analyst Arjun Ajnawi of Infovesta Kapital Advisori said several factors were weighing on the IHSG in Thursday’s trading, 21 May 2026. The IHSG fell 218.36 points or 3.46% to 6,100.14 as of 14:00 WIB. The LQ45 index of 45 leading stocks dropped 13.78 points or 2.18% to 616.90. The first factor was domestic: investors had already priced in a decision outside expectations by Bank Indonesia (BI) to raise the BI-Rate by 50 basis points to 5.25%. ‘The market was only pricing in a 25 basis point increase,’ he said when reached in Jakarta. The next factor was the latest policy on governance of export of natural-resource commodities, which requires exporting strategic commodities through a single gateway via state-owned enterprises, with initial implementation targeted from 1 June to 31 August 2026. ‘That also revamps the export processes of various key industries, particularly in commodities (palm oil, coal, etc.). Obviously, that has caused volatility in the market,’ Arjun added.