OJK Chief Says IHSG Decline Remains Modest

Jakarta, CNBC Indonesia – The Chair of the Board of Commissioners of the Financial Services Authority (OJK), Friderica Widyasari Dewi, spoke on the performance of the Jakarta Composite Index (IHSG), which has continued to slip throughout the year. The figure, often known as Kiki, said the IHSG weakness in recent days remains in step with the regional bourses’ softness. “Other exchanges have fallen further and risen slightly today, in line with geopolitical tensions and the Middle East conflict and expectations of a hawkish monetary policy,” Kiki said at the Indonesia Stock Exchange on Tuesday, 19 May 2026. She further noted that the MSCI rebalancing decision, which removed six Indonesian stocks from the Global Standard and 13 stocks from the Small Cap, contributed to the index’s slide, especially as the market had only just reopened after the long weekend break. IHSG has been the world’s most rapidly deteriorating index and the worst performer globally this year. Kiki was seen this morning visiting the exchange alongside Deputy Speaker Sufmi Dasco, Danantara CEO Rosan Roeslani, Danantara COO and Head of BP BUMN Dony Oskaria, with exchange directors present. “Today we were welcomed by Prof Sufmi Dasco, Mr Rosan Roeslani, Mr Dony Oskaria, and accompanied by the exchange’s directors to respond to the latest developments. Thanks to Prof Dasco and all Danantara colleagues for their attention,” Kiki said. Kiki assessed that the IHSG decline following the MSCI announcement remained within a normal range. “If you look at it, IHSG weakness is still moderate, at 1.98% on the first day of the MSCI announcement, and yesterday at 1.85% on 18 May after the long holiday,” she said. Kiki noted that the dynamics of IHSG movements indicate a more fundamentals-based adjustment and described this as the logical consequence of various transformations in the capital market driven by OJK and BEI. She believes the IHSG movement is now closer to fundamentals. “Now the IHSG movement is also relatively in line with the MSCI benchmark index and major sub-indices such as LQ45 and IDX30 and IDX80,” she said.