IHSG Rises 8 Percent After Transparency Reform, No "Downgrade" Threat from MSCI
JAKARTA, KOMPAS.com - PT Bursa Efek Indonesia (BEI) has assured that the domestic capital market remains on a positive trajectory, in line with the strengthening of the Composite Stock Price Index (IHSG) following the announcement of the market transparency reform programme at the beginning of April 2026.
BEI’s Director of Company Valuation, I Gede Nyoman Yetna, stated that the IHSG experienced an increase of around 8 percent after the announcement of the market transparency reform on 2 April this year.
The index, which had been at the level of 7,026, has strengthened to around 7,559.
“Since the completion of the market transparency reform was announced on 2 April 2026, if we look at the IHSG, it has shown an increase of 8 percent from 7,026 points to yesterday’s close at 7,559 points,” Nyoman told reporters on Wednesday (22/4/2026).
According to him, this increase reflects a positive response from market participants to the reform steps taken by the exchange authorities.
“This also reflects that the public and investors are welcoming the reform that has been carried out positively,” he explained.
He assured that BEI continues to pursue innovations to strengthen investor protection, increase liquidity, and maintain market confidence.
These steps are expected to create more orderly, fair, and efficient trading.
“BEI will continue to innovate in development and enhancement of investor protection to increase liquidity, investor trust, and ensure that trading can be conducted in an orderly, fair, and efficient manner,” Nyoman elaborated.
The exchange authorities are also intensively communicating with Morgan Stanley Capital International (MSCI).
In the latest discussions, MSCI is said to have acknowledged the market transparency reform steps. The current focus of discussions is no longer on concerns about downgrading, but rather on evaluating the implementation of the reforms that have been carried out.
MSCI itself is conducting further assessments while gathering input from clients and global market participants regarding the effectiveness of these policies in the Indonesian capital market.
“BEI always maintains active discussions with MSCI. The talks with MSCI are progressing constructively and positively. MSCI has also acknowledged all the market transparency reforms that have been carried out by OJK and BEI, which was also mentioned in MSCI’s announcement on 21 April 2026,” he emphasised.
BEI has begun implementing the flagship IDX Indices (IDX30, LQ45, and IDX80), where stocks on the High Shareholding Concentration (HSC) list are not included in the IDX Flagship Index constituents.
This step is to ensure that the index constituents are investable, aligned with investment objectives, and can serve as a reference for investors in making investment decisions.