Indonesia Stocks Retreat in Afternoon Session

2026-06-22 06:51 By Farida Husna 1 min. read

Indonesia’s IDX Composite slipped 67 points, or 1.0%, to 6,111 on Monday afternoon, reversing early strength as concerns mounted over further central bank tightening, MSCI’s downgrade of the country’s Information Flow accessibility, and FTSE Russell’s removal of several local stocks from its stock indices.

MSCI is also set to review later this week whether to downgrade Indonesia to frontier market status, a move that could spark heavy capital outflows.

U.S.

stock futures weakened at the same time amid renewed doubts over the Middle East peace process.

In main trading partner China, the PBoC kept lending rates unchanged for the 13th straight month, underscoring caution as household spending and investment showed signs of cooling.

Losses in Jakarta were broad-based, with basic materials, cyclicals, and energy leading declines.

Notable laggards included Merdeka Battery Materials (-4.6%), Darma Henwa (-3.8%), Kalbe Farma (-2.9%), and Bank Tabungan Negara (-2.4%).



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Indonesia Stocks Retreat in Afternoon Session
Indonesia’s IDX Composite slipped 67 points, or 1.0%, to 6,111 on Monday afternoon, reversing early strength as concerns mounted over further central bank tightening, MSCI’s downgrade of the country’s Information Flow accessibility, and FTSE Russell’s removal of several local stocks from its stock indices. MSCI is also set to review later this week whether to downgrade Indonesia to frontier market status, a move that could spark heavy capital outflows. U.S. stock futures weakened at the same time amid renewed doubts over the Middle East peace process. In main trading partner China, the PBoC kept lending rates unchanged for the 13th straight month, underscoring caution as household spending and investment showed signs of cooling. Losses in Jakarta were broad-based, with basic materials, cyclicals, and energy leading declines. Notable laggards included Merdeka Battery Materials (-4.6%), Darma Henwa (-3.8%), Kalbe Farma (-2.9%), and Bank Tabungan Negara (-2.4%).
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Indonesia Shares Inch Higher to Start Week
Indonesian stocks edged up 13 points, or 0.2%, to 6,186 in Monday morning trade, reversing prior-session losses on strength in infrastructure, energy, and tech. Sentiment was supported by strong May tax revenue growth and fresh infrastructure financing from the Asian Infrastructure Investment Bank. Geopolitically, reports said the U.S. and Iran approved a 60-day roadmap toward a final peace deal, including an end to hostilities in Lebanon. In top trading partner China, the PBoC held lending rates steady for a 13th month despite signs of cooling demand, with softer consumption and investment last month. However, gains were capped by worries over Bank Indonesia’s further tightening, MSCI’s downgrade of Indonesia’s Information Flow accessibility, and FTSE Russell’s removal of several local stocks from its indices. Early standouts included Sumber Alfaria Trijaya (3.7%), Indosat (3.5%), Hartadinata Abadi (2.8%), and Medco Energi (2.6%).
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Indonesia Market Turns Lower Amid MSCI Scrutiny
Indonesian equities slipped 37 points or 0.6% to 6,135 on Friday afternoon, erasing early gains and marking a third straight decline. Investor confidence dimmed as MSCI flagged transparency gaps and coordinated trading, just days before a possible downgrade to frontier status that could trigger massive capital outflows, around USD 13 billion, according to Reuters. Concerns also mounted over the impact of higher borrowing costs on household spending, after Bank Indonesia delivered a total of 100 bps of hikes since May to shore up the rupiah and stem capital flight. Still, the local market is tracking around a 2% rise for the week, the second consecutive weekly gain, boosted by hopes of a US-Iran agreement despite worries over Fed hawkishness. Losses spread across industrials, financials, property, and basic materials, with Telkom Indonesia (-6.8%), Sarana Menara Nusantara (-6.5%), Barito Pacific (-4.2%), and Bank Mandiri (-3.4%) among key laggards.
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