automotive

Dark Clouds Loom Over Indonesia's Economy, Increasing Pressure On IHSG And Rupiah

The Indonesian financial market remained in the red throughout trading on Monday, March 17, 2025. The Composite Stock Price Index (IHSG) and the rupiah experienced declines, while investors sold off government bonds (SBN). 

It is anticipated that the Indonesian financial market will continue to exhibit volatility today as investors await significant data releases this week. Further insights into today's market sentiment can be found on page 3 of this article. 

During yesterday's trading session, the IHSG closed down by 0.67%, or 43.68 points, settling at 6,471.95. This decline marks the third consecutive day of losses for the index. 

The trading volume yesterday was relatively low, amounting to IDR 9.72 trillion, with a total of 19.86 billion shares exchanged and 1.08 million transactions recorded. Of the stocks traded, 306 gained value, 279 declined, while 219 remained unchanged. 

PT DCI Indonesia Tbk (DCII) was the largest contributor to the index's decline, accounting for a drop of 47.76 index points, as its share price fell by 19.99%, hitting the lower limit or auto rejection at IDR 144,750 per share. 

Foreign investors recorded a net sell of IDR 885.84 billion. The IHSG was also negatively impacted by shares of PT Barito Renewables Energy Tbk (BREN), owned by Prajogo Pangestu, which contributed 11.65 points to the decline, along with major banks such as PT Bank Central Asia Tbk (BBCA) at 9.76 points, PT Bank Mandiri Tbk (BMRI) at 5.36 points, and PT Bank Negara Indonesia Tbk (BBNI) at 3.66 points. 

In terms of the rupiah exchange rate, it also experienced a correction during yesterday's trading. According to Refinitiv data, the Garuda currency closed at IDR 16,395 per US dollar, reflecting a 0.31% decline for the day. 

This depreciation of the rupiah coincided with a slight increase in the US dollar index (DXY), which rose by 0.02% to 103.75. The ongoing weakness of the rupiah and the IHSG is attributed to uncertainties in the macroeconomic environment. 

Tag: IHSG Indonesian Financial Market Rupiah