IHSG Session I Corrected 0.60% to 6,411
The Jakarta Composite Index (IHSG) was under pressure in trading on Wednesday (19/8/2026). The decline came after shares of PT Bayan Resources Tbk (BYAN) weakened significantly following clarification regarding corporate action rumours.
Based on Indonesia Stock Exchange (BEI) data, the IHSG at 12.00 WIB fell 38.63 points or 0.60% to 6,411.19. The IHSG opened at 6,408.18 and touched a high of 6,490 and a low of 6,373.
Total transactions today reached Rp 7.35 trillion, involving 21.43 billion shares changing hands 1.31 million times. A total of 233 shares rose, 361 fell and 191 were stagnant.
One of the main drags on the index came from BYAN shares which plunged 6.95% to Rp 16,075. In fact, in trading on Tuesday (18/8/2026), the coal producer’s shares closed up 19.97% at Rp17,275 and were one of the main drivers of the IHSG’s strengthening.
The BYAN correction occurred after the company provided clarification regarding rumours of a plan to acquire around 62.2% of the company’s shares by businessman Andi Syamsuddin Arsyad alias Haji Isam. BYAN management stated that it was not aware of any plan for such a takeover or acquisition transaction.
Pressure was also seen on the majority of shares. As of 09.03 WIB, 293 shares had weakened, while 154 shares had strengthened and 516 other shares were stagnant.
Transaction value was recorded at Rp683.1 billion, with trading volume of 1.82 billion shares and frequency of 129.5 thousand transactions.
The IHSG is expected to move volatile in trading on Wednesday (19/8/2026). Investors tend to be wait and see awaiting Bank Indonesia’s (BI) interest rate decision and observing geopolitical developments and US central bank policy.
Domestically, the main focus is on the results of the BI Board of Governors Meeting (RDG) held on Tuesday-Wednesday (18-19 August 2026). BI is scheduled to announce its monetary policy decision today.
The results of a CNBC Indonesia poll of 14 institutions and agencies showed all respondents expect BI to maintain its benchmark interest rate or BI Rate at 5.75%.
If realised, BI will have maintained the interest rate for two consecutive meetings after previously holding the BI Rate at 5.75% in July 2026.
Investors will also observe BI’s views on domestic economic conditions, banking liquidity, and credit growth prospects until the end of the year.
The rupiah’s movement is one of the main factors making market participants expect BI will not raise interest rates again. The rupiah has moved away from the psychological level of Rp18,000 per US dollar and is moving in the range of Rp17,800/US$ ahead of the August RDG.
In addition, domestically, investors are also observing Indonesia’s external debt (ULN) data. Bank Indonesia recorded the ULN position in the second quarter of 2026 at US$453.4 billion or around Rp8,095.5 trillion, growing 4.4% annually.
Of that amount, around US$105.9 billion or Rp1,891.7 trillion will mature within a maximum of one year.
Nevertheless, BI considers Indonesia’s ULN structure to remain healthy. The ULN to GDP ratio is at 30.6%, while around 82.1% of total ULN is long-term debt.
Meanwhile, external sentiment is still overshadowed by tensions in the Middle East. US President Donald Trump’s statement that the Strait of Hormuz is open for shipping contradicts Iran’s statement that the strategic route is still closed.
Uncertainty regarding US-Iran negotiations has again pushed oil prices. West Texas Intermediate (WTI) crude oil contracts rose 0.4% on Tuesday to US$85.26 per barrel, while Brent strengthened 0.17% to US$91.02 per barrel.
Brent prices have strengthened 4.53% in the last three trading days, while WTI rose 3.5% in the last four days.
Shipping disruptions in the Strait of Hormuz are also still occurring. The United Kingdom Maritime Trade Operations (UKMTO) reported a ship was hit by an unknown projectile while exiting the Strait of Hormuz. The incident damaged the engine room and caused one crew member to become a casualty.