Video: Domestic Sentiment Drives Selling Pressure as IHSG and Rupiah Continue to Weaken

Jakarta, CNBC Indonesia — The index initially rose but reversed course by 09:29 WIB, dropping 0.17% to 6,147 as the rupiah weakened to Rp17,700 per US dollar. Equity analyst Elvan Chandra of CNBC Indonesia said the IHSG’s performance contrasted with most Asian markets, which were rising, due to domestic sentiment. He cited MSCI’s decision to remove Indonesian stocks from its indices and the formation of a state-owned commodity enterprise as key factors driving market uncertainty and selling pressure.