IHSG Opens Down 0.3% Ahead of MSCI Announcement

The Jakarta Composite Index (IHSG) opened weaker in trading on Tuesday (23/6/2026), amid cautious market sentiment as investors await the MSCI announcement tomorrow. The IHSG opened at 6,096.50 at 09.00 WIB and moved down to 6,098.46, correcting by 18.23 points or -0.30%. Transaction value at the start of trading was recorded at Rp261.9 billion, with a volume of 293.8 million shares changing hands across 39,100 transactions. A total of 201 stocks rose, 177 stocks fell, and 581 stocks were stagnant. The MSCI Classification announcement is scheduled for 24 June 2026. Market participants are awaiting the fate of the Indonesian market, whether it will retain its Emerging Market (EM) status or be downgraded to Frontier Market. In addition, a number of important sentiments are expected to colour the movement of the Jakarta Composite Index (IHSG) in trading on Tuesday (23/6/2026). Positive sentiment came from the easing of geopolitical tensions in the Middle East, which triggered a decline in world oil prices, the government’s economic stimulus, and plans to diversify state financing through the issuance of Panda Bonds. The most positive news for the market came from developments in relations between the United States (US) and Iran. The US officially relaxed sanctions against Iran for 60 days after the initial round of peace talks showed significant progress. The market response was swift. Brent crude oil prices for August delivery closed down 3.31% to US$77.90 per barrel, while West Texas Intermediate (WTI) crude oil weakened 2.32% to US$74.82 per barrel. The decline in oil prices is a positive sentiment for Indonesia as a net oil importer. Lower energy prices have the potential to reduce inflationary pressures, maintain rupiah stability, and improve the government’s fiscal outlook. Domestically, the government also recently announced an economic stimulus package for the second half of 2026 worth Rp26.34 trillion. The stimulus includes food assistance, a national internship programme, transport discounts, flight ticket subsidies, and incentives for the industrial sector. The stimulus package is expected to maintain public purchasing power while supporting economic growth amid global uncertainty. Furthermore, the market is also observing the government’s plan to issue Panda Bonds, or Chinese yuan-denominated debt securities. Finance Minister Purbaya Yudhi Sadewa stated that this scheme could reduce dependence on the US dollar and help ease pressure on the rupiah through the Local Currency Transaction (LCT) mechanism.