IHSG Slumps 1.23% to 6,130 Ahead of Eid al-Adha Holiday

Jakarta, CNBC Indonesia - The Indonesia Composite Index (IHSG) slumped on Tuesday (26 May 2026), continuing downward pressure after a slight recovery the previous day. At the close of the second session, the IHSG fell 76.16 points or 1.23% to 6,130.19. The index fluctuated between 6,124.79 and 6,286.87 during the session. First-session trading value reached Rp18.1 trillion with a volume of 24.88 billion shares and 1.96 million transactions. 241 stocks advanced, 447 declined, and 133 remained stagnant. Most sectors declined, with the deepest corrections seen in primary consumer goods, property, and financials. Specifically, blue-chip giants such as Astra International (ASII), contributing a 18.95-point decline, Bank Rakyat Indonesia (BBRI) with -15.68 points, and Bank Central Asia (BBCA) with -11.71 points were the main drags on the index. Indonesian financial markets are expected to remain cautious ahead of the Eid al-Adha long holiday, with trading suspended on Wednesday and Thursday before resuming on Friday. Meanwhile, US-Iran negotiations in Doha to end a three-month conflict have shown progress, including discussions on reopening the Strait of Hormuz and Iran’s nuclear programme. However, Washington and Tehran remain uncertain about a near-term agreement. Market optimism drove oil prices down, with Brent crude falling 7% to $96.14 per barrel and WTI dropping over 6% to $90.30 per barrel. US President Donald Trump stated talks with Iran were progressing well but warned of potential renewed strikes if negotiations failed. Meanwhile, US Secretary of State Marco Rubio affirmed diplomacy remains the priority. Meanwhile, Israel continued its attacks on Hezbollah in Lebanon, while Iran claimed to have shot down a stealth drone in the Persian Gulf. Regional tensions had previously triggered oil price surges and shipping disruptions in the Strait of Hormuz. Asian markets traded mixed in early sessions as investor optimism grew over potential progress in US-Iran negotiations. South Korea’s main index hit a record high of 8,094.90. The smaller Kosdaq index also rose 2.12%. In Japan, the Nikkei 225 fell 0.18% after surpassing the psychological 65,000 level the previous day. The Topix index also fell 0.36% amid profit-taking, while Australia’s S&P/ASX 200 dipped 0.17% at the open. Hong Kong’s Hang Seng index futures also declined.