IHSG Today: Market Watches One-Stop Natural Resources Export Policy
The Jakarta Stock Exchange’s Composite Index (IHSG) is expected to fluctuate on Tuesday, 26 May 2026, as investors monitor the impact of the government’s new one-stop natural resources export policy.
Maximilianus Nico Demus, Associate Director of Research and Investment at Pilarmas Investindo Sekuritas, projected limited movement for the IHSG today. “Based on technical analysis, we see the IHSG potentially rising within a narrow range between support at 5,880 and resistance at 6,220,” he stated in his analysis in Jakarta on Tuesday.
The main market sentiment stems from statements by Coordinating Minister for Economic Affairs Airlangga Hartarto regarding the implementation of the one-stop natural resources export policy through PT Danantara Sumberdaya Indonesia (DSI). The policy will be rolled out gradually from 1 June 2026, with full implementation targeted by 1 January 2027.
Initially, commodities included in the scheme are palm oil (CPO), coal, and nickel. PT DSI will be listed as a co-exporter in the Indonesia National Single Window (INSW) system.
The policy aims to improve export governance and reduce trade data discrepancies with partner countries such as the United States and China, which have historically amounted to tens of billions of US dollars. Although intended to enhance transparency and foreign exchange control, the market has responded cautiously.
Nico noted that the policy could increase compliance costs for businesses in the short term. “Investors will watch whether the new scheme streamlines trade or instead slows export flows and company cash flows,” he explained.
Directly affected sectors include coal, CPO, and nickel companies. If implemented smoothly, the policy is expected to strengthen Indonesia’s bargaining position in global markets and minimise under-invoicing or transfer pricing practices.
However, Nico also highlighted psychological challenges in the market. The government’s declining reputation among investors has made market participants sceptical of the new policy, reflected in the lackluster performance of the IHSG and bond markets despite potential gains.