MSCI Rebalancing and DHE Policy Concerns Drive Rp50 Trillion Trading Surge at BEI

Jakarta, CNBC Indonesia - Indonesian stock market trading today reached a massive Rp50.15 trillion with 47.21 billion shares exchanged over 2.38 million transactions. The Jakarta Composite Index (IHSG) initially rose by 87.69 points (1.43%) to 6,217.88 in the first session but closed slightly lower by 2.8 points (-0.05%) at 6,127.38, extending the correction since the pre-Eid Al-Adha trading session. Of the 817 listed stocks, 271 advanced, 409 declined, and 137 remained flat.

Doo Financial analyst Lukman Leong said today’s trading surge was driven by institutional investors adjusting positions ahead of key government agendas, including the implementation of the DHE policy transition and the one-stop export system from 1 June. Additionally, sentiment was influenced by key economic data from the US, China, and Indonesia. “Market participants appear to be adjusting portfolios in anticipation of potential impacts on domestic dollar liquidity, the rupiah exchange rate, and prospects for export-oriented and commodity companies,” he added.

MNC Securities analyst Herditya noted the IHSG’s movements were volatile and prone to further correction. “We observed that pre-opening was in the red, turned green during the day, but closed with a slight decline,” he said.

Meanwhile, conglomerate stocks largely saw significant gains amid MSCI rebalancing, despite pressure from major bank stocks. Barito Group stocks were heavily traded, with TPIA at Rp8.6 trillion, BREN at Rp4.5 trillion, BRPT at Rp4.1 trillion, CUAN at Rp2.4 trillion, PTRO at Rp2.2 trillion, and CDIA at Rp65.6 billion. Alongside Barito Group, major bank and large-cap stocks also saw huge volumes, including BBCA at Rp11.64 trillion, AMMN at Rp8 trillion, BBRI at Rp6.4 trillion, TLKM at Rp5 trillion, ASII at Rp4.8 trillion, and BMRI at Rp3.6 trillion.