JCI Falls 19%, Rupiah Hits All-Time Low, OJK Takes Action
Jakarta, CNBC Indonesia — The Financial Services Authority (OJK) has outlined several anticipatory measures against potential spillover effects from geopolitical uncertainties on the domestic stock market.
OJK Commissioner Chairman Friderica Widyasari Dewi stated that, in collaboration with self-regulatory organisations (SROs), they have extended the validity of policies allowing share buybacks without general meetings of shareholders (GMS), delayed the implementation of short-selling transaction financing, introduced trading halt policies, and set auto-rejection limits until September 2026.
“We hope that these policies will maintain stability in the Indonesian stock market,” said the woman familiarly known as Kiki during the virtual press conference on the Assessment of the Financial Services Sector and OJK Policies from the April 2026 RDKB, on Tuesday (5/5/2026).
In addition, she assured that the agenda for market integrity reforms in the capital markets continues. Kiki noted that this forms the primary foundation for gaining investor trust and strengthening credibility, enabling the capital markets to grow more sustainably.
Considering recent developments, OJK has also strengthened monitoring of foreign exchange (forex) activities in financial service institutions through daily net foreign exchange position monitoring and more intensive compliance with related forex regulations, as well as supervisory dialogues with financial service institutions.
Furthermore, Kiki said that they continue to coordinate and synergise with institutions in the Financial System Stability Committee (KSSK) and relevant ministries to ensure the financial sector remains stable and resilient amid global turbulence.
“Then, if we look at it, the stability we are maintaining will certainly become the primary modality for us to continue driving growth ahead,” she added.
As is known, the Composite Stock Price Index has fallen 19.33% year-to-date (ytd) or so far this year. Meanwhile, the rupiah has broken its weakest record, at Rp17,410 per US dollar.
Kiki mentioned that prolonged global geopolitical uncertainties do pose potential pressure on the global economy. This is reflected in increased financial market volatility, global inflation rates, and outflows of funds from most emerging markets.
To anticipate its impact on the stability of the financial services sector, OJK continues intensive monitoring of the financial services sector’s performance, including conducting stress tests with various scenarios, and strengthening supervision.