Indonesian Composite Index Continues Correction, Opens Down 0.21%

Jakarta, CNBC Indonesia – The Jakarta Composite Index (IHSG) opened weaker in trading on Tuesday (15/9/2026). The movement of the domestic stock market was shadowed by a number of sentiments from home and abroad, ranging from the change of finance minister to the escalation of the Middle East conflict and the direction of US interest rate policy.

Based on data from the Indonesia Stock Exchange, at 09.00 WIB the IHSG stood at 6,520.91, corrected by 13.78 points or 0.21% compared to the previous close of 6,534.69.

The index touched an intraday high of 6,549.60 and a low of 6,520.21 at the start of trading. Within minutes of opening, the IHSG’s correction deepened to 0.84%.

In terms of stock movements, 282 shares rose, 105 declined and a further 576 were unchanged.

Transaction value at the start of trading reached Rp365.1 billion, involving 586.6 million shares across 49,740 transactions.

The movement of the IHSG on Tuesday (15/9/2026) was shadowed by a number of sentiments from home and abroad.

Domestically, investors’ attention was focused on the change of finance minister from Purbaya Yudhi Sadewa to Suahasil Nazara. Globally, war tensions in the Middle East, the direction of The Federal Reserve’s (The Fed) interest rate policy, and the release of Chinese economic data were factors with the potential to influence market movement.

On the domestic front, market players will be watching the direction of fiscal policy under Suahasil’s leadership. After being sworn in on Monday (14/9/2026), Suahasil affirmed his commitment to safeguarding the health and credibility of the State Budget (APBN), including ensuring the deficit remains below 3% of Gross Domestic Product (GDP). Certainty over fiscal policy is important for investors amid pressure on the rupiah exchange rate and global uncertainty.

Externally, the escalation of the Middle East conflict has once again raised concerns over global energy supplies. The Iran-backed Houthi group launched attacks on Saudi Arabia on Monday (14/9/2026), after the Saudi East-West oil pipeline was disrupted by earlier strikes. Meanwhile, the Strait of Hormuz remains closed and diplomatic efforts to reopen it face obstacles.

These conditions have pushed world crude oil prices higher. In Monday’s trading, West Texas Intermediate (WTI) crude futures rose 1.24% to US$102.65 per barrel, while Brent gained 1.18% to US$106.93 per barrel.

The rise in oil prices has the potential to add inflationary pressure and increase energy costs, making it a concern for stock markets, particularly in oil-importing countries.

External pressure is also coming from the outlook for US monetary policy. Bank Indonesia (BI) has warned that the era of higher-for-longer interest rates poses a challenge for developing countries. The strengthening of the US dollar and rising yields on US government bonds could push capital flows towards developed-market assets, thereby pressuring the rupiah and domestic financial markets.

Investors will also be watching the Federal Open Market Committee (FOMC) meeting taking place on 15-16 September US time. Markets expect The Fed to raise interest rates by 25 basis points, with the probability of an increase towards the 3.75%-4.00% range at 92.4% according to the CME FedWatch. Because the increase has largely been priced in, market attention is expected to turn to the economic projections and the next monetary policy signals from Fed Chair Kevin Warsh.

From Asia, China is scheduled to release August retail sales and unemployment data on Tuesday (15/9/2026) at 09.00 WIB. Retail sales are expected to grow 0.8% year on year, up from 0.6% in July, while the unemployment rate is projected to hold steady at 5.2%. The data will provide clues about the strength of Chinese domestic consumption and the effectiveness of government stimulus, which also affects the outlook for global commodity demand.

In addition, BI is scheduled to release Indonesia’s External Debt Statistics for July 2026. Indonesia’s external debt position at the end of the second quarter of 2026 stood at US$453.4 billion, growing 4.4% year on year, with a ratio to GDP of 30.6%. Investors will be monitoring developments in this debt amid attention to foreign currency needs and rupiah stability.