Indonesia’s IHSG falls 16.7% in October as foreign investors sell

Indonesia’s benchmark IHSG ended October 2026 at 5,057, down 16.7% from the previous month, with foreign investors recording net sales of Rp16.88 trillion, according to the Financial Services Authority (OJK).

At a virtual press conference on 5 November, OJK official Hasan Fawzi said MSCI’s announcement concerning Indonesia’s market reclassification had contributed to pressure on the index. He said capital markets continued to function despite substantial pressure, with companies still raising funds and the domestic investor base expanding.

Average daily share trading value increased to Rp16.31 trillion in October from Rp14.94 trillion in September. The year-to-date daily average reached Rp20.34 trillion, while October’s bid-ask spread stood at 1.52 per cent.

The capital market investor count rose by 1.38 million over the month to 33 million, a year-to-date increase of 64.75 per cent. Foreign investors were net buyers of government securities, purchasing Rp9.55 trillion on a monthly net basis.

Public offerings had raised Rp209.77 trillion, with another 26 offerings worth Rp24.46 trillion in the pipeline. Hasan said completion of offerings by year-end would depend on market conditions, investor interest and timing considerations. Securities crowdfunding had raised Rp2.09 trillion as of 29 October.

The Indonesia Composite Bond Index stood at 431.5 in October, easing from the previous month. Mutual fund net asset value totalled Rp620.14 trillion as of 30 October, down 2.66% month on month.

Following the launch of gold exchange-traded funds on 10 August, seven products had been recorded by 30 October, with Rp110.26 billion under management. The carbon exchange recorded 60 service users, transaction volume of 1.98 million tonnes of CO2e and cumulative transaction value of Rp94.2 billion.