Indonesia's IHSG slides 1.3% as rupiah steadies near 17,850 per dollar

The Jakarta Stock Exchange’s composite index (IHSG) closed 75.34 points lower, down 1.28% to 5,820.79 after opening higher at 5,932. A total of 467 stocks fell, 228 rose and 264 were unchanged, with trading value around Rp 8.7 trillion covering 13.3 billion shares. Sector losses were led by finance, infrastructure and raw‑materials, while property posted a modest gain.

The Indonesian rupiah ended the session stronger, trading between Rp 17,851 and Rp 17,859 per U.S. dollar, an appreciation of roughly 0.4% from the previous close. Analysts linked the uplift to easing geopolitical tension in the Middle East—particularly a de‑escalation between the United States and Iran—and stable global oil prices, which reduced pressure on emerging‑market currencies. Bank Indonesia’s aggressive market interventions and the government’s recent budget cuts to the free‑school‑meal program (MBG) were also cited as supporting factors.

Both the equity market and the currency were closely watched ahead of upcoming U.S. labor data, Indonesian trade‑balance and inflation releases, which could influence further moves in the coming days.