IHSG Falls 8.35 Percent in a Week; Stocks of Prajogo Pangestu and Sinar Mas Group Weigh Down Index
JAKARTA – Indonesia’s benchmark Jakarta Composite Index (IHSG) plummeted 8.35 percent, falling 561.28 points during the week commencing 18 May 2026 and holding at 6,162.05 through the close of trading on Friday, 22 May 2026.
The decline eroded Indonesian stock market capitalisation by approximately 10 percent, equivalent to Rp 1.190 trillion, reducing total market capitalisation to Rp 10.635 trillion.
Amid mounting market pressure, average daily transaction values on the Indonesian Stock Exchange (BEI) reached Rp 18.82 trillion throughout the week, representing an 18.4 percent decline compared with the preceding week’s daily average.
According to BEI data, shares affiliated with major conglomerate groups emerged as primary drags on IHSG performance during the week, ranking among the top laggards.
One of five key IHSG weighted stocks originated from the Sinar Mas Group, namely PT Dian Swastatika Sentosa Tbk (DSSA).
Additionally, PT Amman Mineral Internasional Tbk (AMMN), a mining emitter held by several mining sector tycoons, constituted another significant pressure point on the IHSG.
The IHSG strengthened at Friday’s 22 May 2026 market close, advancing 1.10 percent or 67 points to 6,162.045.
Despite the index rebound following sharp early trading pressure, foreign investors continued net selling activity totalling Rp 1.06 trillion.
BEI data revealed the largest foreign selling pressure concentrated in PT Bank Central Asia Tbk (BBCA) shares worth Rp 322 billion, followed by PT Bank Mandiri Tbk (BMRI) at Rp 288 billion.
Foreign selling pressure also appeared in PT Chandra Asri Pacific Tbk (TPIA) and PT Amman Mineral Internasional Tbk (AMMN) stocks, each recording Rp 156 billion, as well as PT Telkom Indonesia Tbk (TLKM) at Rp 152 billion.
PT Merdeka Copper Gold Tbk (MDKA) shares attracted primary buying interest with net purchases of Rp 174 billion.
Additionally, PT Timah Tbk (TINS) recorded foreign net buying valued at Rp 81 billion, followed by PT Vale Indonesia Tbk (INCO) at Rp 73 billion, PT Petrosea Tbk (PTRO) at Rp 37 billion, and PT Astrindo Nusantara Infrastruktur Tbk (BIPI) at Rp 19 billion.
Trading liquidity remained elevated, with transaction volume reaching 40.288 billion shares valued at Rp 21.562 trillion.
Trading frequency touched 1.97 million transactions. From share movement perspective, the majority of emitters advanced, with 449 stocks gaining, 251 declining and 118 moving sideways.