Those Who Laugh and Cry as the IHSG Crashes, the Worst in 3.5 Years

Jakarta, CNBC Indonesia - The Indonesian stock exchange has taken a beating this week. Trading at the Indonesia Stock Exchange (BEI) from 2 to 6 March 2026 ended in the red. The Jakarta Composite Index (IHSG) fell 1.62% to close at 7,585.687. The level of the IHSG is the lowest since August 2025. Over the week, the IHSG slumped 7.89%, the deepest decline since the second week of May 2022, or 3.5 years.

The IHSG’s fall was driven by negative sentiment from both domestic and international sources. Domestic pressures came from surging inflation and S&P downgrading Indonesia’s outlook. International sentiment was dampened by the Iran–Israel and United States conflict.

Market capitalisation fell from Rp14,787 trillion to Rp13,627 trillion. The decline was accompanied by a slowdown in several trading activity indicators. The average daily value of transactions declined 16.64% to Rp24.97 trillion. The average daily trading volume fell 17% to 42.34 billion shares.

Despite the crash, foreign investors recorded a net buy of Rp2.22 trillion. Amid the slump, several stocks saw heavy selling by foreigners, especially banks. Several stocks also fell sharply by more than 40%. Interestingly, several stocks recorded significant gains. These shares dominated by mining and energy. The weekly winner is PT Ifishdeco Tbk (IFSH). BEI even temporarily halted trading of IFSH due to its sharp rally.