IHSG Strengthens This Morning, Opening Up 0.27%
The Indonesia Composite Index (IHSG) opened stronger in trading on Thursday (17/09/2026), amidst global sentiment pressure after the US central bank, the Federal Reserve (The Fed), raised its benchmark interest rate.
Based on Refinitiv data, the IHSG opened at 6,455.03, up from the previous trading close of 6,436.85. At 09:00 WIB, the index was recorded gaining 0.27% to the 6,454.45 position and continued its strengthening towards 0.6%.
At the start of trading, the IHSG briefly touched a high of 6,460.57 and a low of 6,452.96.
The IHSG’s gain follows a 0.38% decline at the close of trading on Wednesday (16/09/2026). Previously, the index had strengthened by more than 1% in early trading before reversing into the red zone by the close.
Nevertheless, stock movement at the start of trading showed diverse dynamics. A total of 1s99 stocks strengthened, 150 stocks weakened, and 614 stocks remained unchanged.
Transaction value was recorded at Rp188.5 billion, with trading volume reaching 398.8 million shares and transaction frequency amounting to 31,180 times.
The Indonesian financial market is expected to face pressure in today’s trading. The Federal Reserve’s decision to raise the benchmark interest rate by 25 basis points to 3.75%-4%, accompanied by a surge in the US dollar and US Treasury yields, serves as the primary sentiment overshadowing the movement of the IHSG and the rupiah.
The Fed raised interest rates for the first time since July 2023 and hinted at the possibility of further increases until the end of the year. Sixteen out of 18 Fed officials anticipate at least one more 25 bps rate hike, reflecting the US central bank’s concerns regarding persistently high inflation.
This decision immediately pushed the US dollar index to the 100.252 level, the highest since 12 August 2026. Meanwhile, the 10-year US Treasury yield breached 5.004%, the highest level since July 2007.
This condition has the potential to increase pressure on the rupiah and trigger a shift in investor funds towards US dollar-denominated assets. The rise in US Treasury yields could also increase the attractiveness of US bonds compared to emerging market assets, including Indonesian stocks and debt securities.
Market pressure is further exacerbated by the escalating conflict in the Middle East. The Houthi group is reported to have gained control over several areas and islands around the Bab el-Mandeb Strait, a strategic global oil trade route. Along with the Strait of Hormuz, this route is a critical point for global energy distribution.
These developments increase the risk of oil supply and distribution disruptions, which could maintain pressure on energy prices. Rising oil prices could potentially heighten global inflation risks while adding a burden to energy-importing nations, including Indonesia.
On the other hand, pressure on the Fed also comes from US President Donald Trump, who has once again urged an aggressive interest rate reduction to 1% or lower. This difference in perspective adds to market attention regarding the direction of US monetary policy and central bank independence.
Domestically, market participants will also closely monitor several developments, ranging from the implementation of income tax (PPh) collection for online traders via marketplaces starting 1 October 2026, to the OJK’s enforcement actions against issuers violating capital market regulations.
Meanwhile, the global market awaits the release of US jobless claims and the final Eurozone inflation data for August 2026, as well as the interest rate decision from the Bank of England (BoE). These data points and decisions could provide further clues regarding global economic conditions and the direction of central bank monetary policies.