IHSG Slumps Over 1% Again, Hundreds of Stocks in the Red

The Jakarta Composite Index (IHSG) fell further during trading on Friday (5/6/2026), continuing its slide after collapsing nearly 2% the previous day. At the market open, the IHSG edged up 0.11% to 5,846.49, but selling pressure quickly dominated, pushing the index down to 5,750, a drop of 84 points (-1.46%), within less than 20 minutes. During the morning session, the IHSG hit a high of 5,860 and a low of 5,749. The majority of stocks traded in negative territory, with 340 decliners versus 218 gainers and 154 stocks unchanged. Transaction value at the opening reached Rp 3.71 trillion, with a trading volume of 4.49 billion shares changing hands across 349,000 transactions. Market capitalisation on the exchange was trimmed to Rp10,157 trillion. On Thursday’s trade, the IHSG experienced severe pressure, initially plunging 5% to 5,644.23 before paring most of its losses to close at 5,839.78, down 1.7%. Foreign investor activity was in the spotlight; after recording a net buy of Rp179 billion in the first session, the situation reversed dramatically by the close to a net sell of Rp1.27 trillion across all markets. The largest sell-off was concentrated in major banking stocks, with BBCA, BBRI, BMRI, and BBNI collectively recording foreign sales exceeding Rp1.19 trillion. The ongoing correction has dragged the IHSG back to its lowest level in the past year. Negative sentiment stemmed from multiple directions, including a downgraded outlook for Danantara Investment Management, a weakening rupiah breaching Rp18,000 per US dollar, and market concerns over upcoming rating agency assessments and an MSCI evaluation due in June. Meanwhile, Asia-Pacific stock markets opened lower, with South Korea leading regional losses after a tech sell-off on Wall Street.