IHSG Opens in the Green, Up 0.5% This Morning

Jakarta, CNBC Indonesia — The Composite Stock Price Index (IHSG) opened in the green again this morning, Tuesday (28 April 2026). The IHSG opened up 0.5% or 35.7 points to the level of 7,142.22. A total of 320 stocks rose, 158 fell, and 481 were unchanged. Trading value reached Rp 536.9 billion, involving 973.6 million shares in 80,930 transactions. Market capitalisation also rose to Rp 12,747 trillion. In the region, Asian markets moved variably as investors continued to monitor and weigh developments in negotiations between the United States (US) and Iran. Investors kept watching the latest signals from the US and Iran. Japan’s Nikkei 225 index fell 0.49% after hitting a record high on Monday, while the Topix index rose 0.23%. Meanwhile, South Korea’s Kospi index rose 0.1%, while the Kosdaq index, which covers small-cap stocks, fell 0.92%. Australia’s stock market, the S&P/ASX 200 index, fell 0.58%. Similarly, the Hong Kong Hang Seng futures index was at 25,875, lower than its previous close of 25,925.65. Entering trading on Tuesday (28 April 2026), domestic financial market players will pay attention to several important sentiments from both home and abroad. Externally, the main focus is on the Bank of Japan’s (BOJ) interest rate decision, which will be announced today. Meanwhile, domestically, market attention will turn to developments in Indonesia’s capital market, from the results of the Financial Services Authority (OJK) meeting with MSCI, the cabinet reshuffle under President Prabowo Subianto, to statements from Finance Minister Purbaya Yudhi Sadewa on the IHSG outlook and the government’s economic growth targets. Meanwhile, Finance Minister Purbaya Yudhi Sadewa provided an outlook on Indonesia’s economy and stock market. This statement was delivered at the Inauguration of the Planned and Periodic Investment Programme (PINTAR) for Mutual Funds and the Opening of Mutual Funds Week 2026 at the Indonesia Stock Exchange (BEI) building, Monday (27 April 2026). Purbaya believes the Composite Stock Price Index (IHSG) has the potential to break through the 28,000 level by 2029-2030. According to him, this projection is not impossible if Indonesia’s economic expansion continues until the end of this decade. “Let’s say it’s now 7,000. Our expansion will continue until 2029-2030. That’s what I say, it could be 4-5 times. It could reach 28,000 at worst. They say Purbaya is crazy,” he said. Purbaya assessed that this projection is not excessive. He compared it to a previous period when the IHSG was at around 400 in 2002 and then rose to about 2,500 in 2009. That means, during that period, the IHSG surged several times over. According to Purbaya, the opportunity for a significant rise in the IHSG remains open if Indonesia’s economic growth can be maintained at a high level. He even previously believed the IHSG could reach 10,000 by the end of this year, although the financial markets are still overshadowed by global uncertainties. This optimism is also linked to the increasing participation of young investors in the capital market. Purbaya noted that investors from the Gen Z group have reached around 57%, making them one of the pillars of long-term capital market growth. On the same occasion, Purbaya also emphasised that the government is serious about pursuing the 8% economic growth target by 2029. According to him, the government has begun carrying out major reforms, including at the Directorate General of Taxes (DJP) and the Directorate General of Customs and Excise. “What we’re running is no joke. The reforms we’re fixing, real reforms. In the first three months, my tax grew 20%, and it will grow more. Customs and excise also have reforms, and the others we will reform quickly,” said Purbaya. On the development spending side, Purbaya mentioned that President Prabowo Subianto has given significant room to the Coordinating Minister for Economic Affairs, Airlangga Hartarto, to accelerate development programmes, one of which is through the Task Force for Accelerating Strategic Government Programmes (Satgas P2SP). With the acceleration of these programmes, Purbaya believes 6% economic growth is already within the government’s reach. This figure is said to be the initial capital to pursue higher growth targets.