IHSG Weakens 0.78% Ahead of MSCI Announcement and FTSE Rebalancing
The Jakarta Composite Index (IHSG) on the Indonesia Stock Exchange (BEI) ended trading on Thursday (18/6) in negative territory, pressured by cautious investor sentiment ahead of global index announcements. The IHSG closed down 48.40 points, or 0.78%, at 6,172.34. The LQ45 index of blue-chip stocks also fell 8.31 points, or 1.33%, to 616.92.
Phintraco Sekuritas Head of Research Ratna Lim stated that investors were being careful ahead of the FTSE index rebalancing and the MSCI announcement. Domestically, market participants are also awaiting the MSCI Global Market Accessibility Review, scheduled for Friday (19/6), and the MSCI Annual Market Classification Review, due the following Wednesday (24/6).
Adding to the domestic backdrop, Bank Indonesia (BI) raised its benchmark interest rate by 25 basis points to 5.75% during its Board of Governors meeting on Thursday. BI Governor Perry Warjiyo explained the hike was aimed at maintaining rupiah exchange rate stability and controlling inflation. This latest increase brings the total rate hikes in the current cycle to 100 basis points, placing the benchmark rate at its highest level since April 2025.
From the global arena, news emerged that US President Donald Trump and the Iranian President had signed a digital memorandum of understanding as an initial step towards developing a permanent peace agreement.
The IHSG moved into negative territory at the start of trading and remained in the red throughout the first session. Selling pressure continued into the second session, keeping the index in negative territory until the close.
Based on IDX-IC sectoral classifications, five sectors managed to post gains. The raw materials sector led the advance with a 2.49% increase, followed by the non-primary consumer goods sector and the transportation and logistics sector, which rose 0.47% and 0.29% respectively. Conversely, six sectors weakened, with the infrastructure sector suffering the deepest decline at 1.96%, followed by the financial sector which fell 1.32%, and the healthcare sector which dropped 1.07%.
Among individual stocks, CBUT, JECC, ZONE, KOPI, and RLCO recorded the largest gains, while KONI, DEFI, BCIC, DPUM, and ESIP experienced the steepest declines. Total trading activity reached 1.78 million transactions, with a volume of 23.68 billion shares and a total value of Rp17.97 trillion. Overall, 271 stocks advanced, 445 declined, and 243 remained unchanged.
Across Asia, index movements were mixed. Japan’s Nikkei surged 1,223.75 points, or 1.75%, to 71,126.00. In contrast, Hong Kong’s Hang Seng fell 387.35 points, or 1.59%, to 23,924.81. The Shanghai Composite weakened 17.59 points, or 0.43%, to 4,090.48, while the Straits Times Index rose 36.38 points, or 0.70%, to 5,212.84.