IHSG Soars 7.57% in a Day: Here Are the Causes

The Jakarta Composite Index (IHSG) continued its rally in the second session on Tuesday (9/6/2026), with the index soaring 7.57% or 404.51 points to close at 5,746.65. A total of 678 stocks rose, 89 fell, and 48 remained unchanged. Transaction value reached Rp 27.77 trillion, involving 44.70 billion shares in 2.70 million transactions. Market capitalisation also rose to Rp 10,120 trillion. All trading sectors strengthened today, with the highest gains recorded by the utilities sector (13.51%), raw materials (10.61%), financials (6.84%), and energy (6.52%). Banking stocks and large-cap blue chips were the main pillars supporting the IHSG’s performance today. Shares of Bank Rakyat Indonesia (BBRI) contributed 29.79 index points, Bank Central Asia (BBCA) 28.10 index points, Telkom Indonesia (TLKM) 25.06 index points, and Bank Mandiri (BMRI) 24.25 index points. The IHSG surged following a meeting between Deputy Speaker of the House of Representatives Sufmi Dasco Ahmad and the Association of State-Owned Banks (Himbara), the National Banks Association (Perbanas), and several other financial sector stakeholders at the Nusantara III Building, Parliament Complex, Senayan, Central Jakarta, on Tuesday. Attending the meeting were Himbara Chairman and President Director of PT Bank Negara Indonesia (Persero) Tbk., Putrama Wahju Setiawan, and Perbanas Chairman and President Director of PT Bank Rakyat Indonesia (Persero) Tbk., Hery Gunardi. Also present were Minister of State Secretary Prasetyo Hadi and Head of the SOE Regulatory Agency/COO of Danantara Indonesia, Dony Oskaria. Dasco stated that the House of Representatives was coordinating and evaluating the current situation related to banking in the country, adding that information received from Himbara and Perbanas indicated very good developments. External sentiment was also relatively more conducive compared to the previous sell-off wave. The rupiah remained around Rp18,050 per US dollar but had begun to strengthen, easing investor concerns over potential continued pressure in the domestic financial market. The rupiah’s strengthening occurred after the market responded to Bank Indonesia’s sudden policy of raising interest rates by 25 basis points to 5.5%. Bank Indonesia Governor Perry Warjiyo said the hike was a further step to strengthen rupiah exchange rate stabilisation from the impact of high global volatility due to the war in the Middle East, and a pre-emptive measure to keep inflation in 2026 and 2027 within the government’s target range of 2.5±1%. Perry stressed that this policy was also intended to increase yields to attract foreign portfolio investment inflows into Indonesia.