OJK: If the IHSG Stays in the Red, Something Must Be Wrong
Jakarta, CNBC Indonesia - The Financial Services Authority (OJK) has acknowledged that the condition of the Indonesian stock market currently needs improvement. The Composite Stock Price Index (IHSG) remains stuck in the red zone and has yet to recover to positive territory, unlike other regional exchanges.
Hasan Fawzi, Chief Executive of Capital Market, Derivative Finance, and Carbon Exchange Supervision at OJK, stated that there is something unusual behind the sustained weakness in the Indonesian stock market. “If it stays red continuously, there must be something wrong, and that is what we have to answer,” he said at the Indonesia Stock Exchange (BEI) building in Jakarta on Tuesday (30/6/2026).
Hasan noted that the capital market industry is entering a new era where trust becomes the most valuable foundation. Consequently, the OJK, together with other capital market regulators, will carry out comprehensive improvements to the Indonesian capital market industry. “We, together with Mr Jeffrey and other SROs and all stakeholders, will continue to drive measurable and sustainable improvements,” he said.
He continued that reforms are necessary given that changes in how the world views risk have implications for Indonesia. As a transforming nation, Indonesia requires significantly larger financing to support various national strategic agendas. “This is where we believe the capital market must be restored to its increasingly strategic central role, namely as the main engine for long-term capital formation and as an investment centre to support national development financing and drive economic growth,” he explained.
Hasan added that the stability of the national financial system through the capital market has actually shown progress. Looking at the long-term trend, as of 26 June 2026, the number of listed companies on the exchange has reached 957 issuers. “This has more than doubled compared to around 440 issuers in 2011,” he said.
Furthermore, public participation has also continued to increase, reflected in the number of investors reaching approximately 28.81 million. This year alone, the figure has grown by 41.45% year-to-date. “This represents an enormous mandate, as it is confirmed that the majority of our investors are young, novice investors who not only need encouragement for in-depth understanding but also must be ensured they receive properly validated and balanced information,” he concluded.
For context, throughout this month, the IHSG has fallen by 7.9% and has declined by 35.49% year-to-date. As of today, Tuesday (30/6/2026), the IHSG closed at 5,643.19, down 177.6 points or 3.05% compared to the previous trading day.