Testing the Resilience of the IHSG Rally After FTSE: Upward Trend or Short-Lived Euphoria?

The Jakarta Composite Index (IHSG) gained momentum following the release by FTSE Russell of the interim equity market classification for the March 2026 period, stating that Indonesia remains in the secondary emerging market category. The announcement was issued in the early hours of Wednesday, 8 April 2026, Indonesian time, and the market responded with a strengthening of the IHSG by 4.42%, or 308.18 points, to the level of 7,279.21 during trading on Wednesday (8/4/2026). Although it strengthened, the IHSG level has shown a fairly deep correction since the beginning of the year, amounting to 15.82% year to date (YtD), in line with foreign outflows from the capital market.