# Indonesia market volatility and commodity exchange reforms > Live situation record from CLSTR: https://clstr.news/situations/indonesia-expands-mineral-policy-downstream-processing-drive-and-delayed-royalty-hike > Updated: 2026-09-09T09:34:31.000Z. Sources: 304. Developments: 191. The Jakarta Composite Index (IHSG) experienced a rebound on September 8, closing with a 1.01 percent gain at the 6,686 level. This growth was driven by broad sectoral gains, particularly in raw materials, and a net foreign buy of approximately Rp398.12 billion, led by major banking stocks such as PT Bank Central Asia Tbk (BBCA) and PT Bank Rakyat Indonesia Tbk (BBRI). Despite this recovery, market volatility persists due to global economic uncertainty. Investors are closely monitoring U.S. inflation data and the potential for the Federal Reserve to maintain tight monetary policies following stronger-than-expected U.S. employment data. Geopolitical tensions in the Middle East and Eastern Europe also continue to influence sentiment. On the macroeconomic front, Indonesia’s foreign exchange reserves rose to USD 146.5 billion in August, marking the highest level since March 2026. Additionally, Indonesia’s economy is projected to grow by approximately 5.2 percent in 2026, outperforming the global growth forecast of 3.0 percent. This resilience is attributed to industrial downstreaming, the digital economy, and domestic activity, even as rising global oil prices and high interest rates present external risks. In corporate developments, PT Semen Indonesia (Persero) Tbk (SIG) maintained its idAAA rating from Pefindo with a stable outlook, reporting significant net profit increases in the first half of 2026. However, the IHSG recently saw a slight decline of 0.12 percent to close at 6,678, as investors remain cautious regarding commodity price volatility and global inflation. ## Claims - IHSG closed at 6,236.13 on 31 July 2026, up 49.77 points or 0.80%. (disputed by 8 sources) - IHSG fell 0.89% to 6,130.59 on June 28, 2026. (disputed) - IHSG closed down 0.89% (55.19 points) at 6,130.58 on July 28, 2026. (disputed) - The rupiah remained stable around Rp 17,950 per US dollar. (corroborated by 9 sources) - Perry Warjiyo resigned as Governor of Bank Indonesia. (corroborated by 8 sources) - IHSG opened lower by about 0.17 % to around 6.185 on 27 July 2026. (corroborated by 8 sources) - The index remained in the green zone for the day. (corroborated by 8 sources) - IHSG support level is at 6.060; breach could trigger deeper correction. (corroborated by 7 sources) - PT Charoen Pokphand Indonesia Tbk (CPIN) was removed from the Global Standard Index and reclassified into the MSCI Global Small Cap Index. (corroborated by 7 sources) - The index adjustments will be effective after the close of trading on August 31, 2026. (corroborated by 7 sources) - Investors were awaiting the U.S. Federal Reserve’s FOMC meeting for rate guidance. (corroborated by 5 sources) - Nine Indonesian stocks were removed from the MSCI Global Small Cap Index: ARTO, BUKA, ESSA, FILM, HEAL, KPIG, RATU, SMGR, and TCPI. (corroborated by 5 sources) ## Timeline ### 2026-09-09: Indonesia stock market faces volatility amid rising oil prices and US Fed uncertainty Indonesia's IHSG and Rupiah face pressure from rising oil prices, US inflation data uncertainty, and geopolitical tensions, despite resilient domestic economic fundamentals. 18 sources. https://clstr.news/cluster/indonesia-composite-index-ihsg-closes-lower-at-6678 ### 2026-09-07: IHSG rises 1.01 percent amid global monetary uncertainty The IHSG rose 1.01 percent to 6,686 on September 8, 2026, driven by foreign buying, despite global uncertainty regarding U.S. Federal Reserve interest rate policies. 12 sources. https://clstr.news/cluster/nikkei-225-recovers-to-65000-level-amid-interest-rate-concerns ### 2026-09-04: Indonesia Stock Exchange Composite rises 1.8% weekly despite Friday dip The Indonesia Stock Exchange Composite rose 1.82% over the week to 6,636, despite a Friday dip caused by profit-taking. Total Indonesian capital market investors have reached 30.3 million. 7 sources. https://clstr.news/cluster/indonesia-composite-index-opens-higher-amid-global-market-strength ### 2026-09-01: Indonesia economic update: IHSG volatility and Rupiah fluctuations Indonesia's economy faces a complex mix of IHSG volatility driven by foreign bank stock accumulation, Rupiah fluctuations amid geopolitical tensions, and government aid for disaster-affected micro-businesses. 20 sources. https://clstr.news/cluster/indonesia-composite-index-rises-amid-inflation-and-pmi-concerns ### 2026-08-31: OJK prepares to oversee Mineral and Strategic Commodity Exchange OJK is preparing to take over supervision of the Mineral and Strategic Commodity Exchange (BMKS), with new regulations expected by September 17, 2026, and operations targeted for January 2027. 2 sources. https://clstr.news/cluster/ojk-prepares-to-oversee-mineral-and-strategic-commodity-exchange ### 2026-08-30: Indonesian markets react to hawkish Fed signals and Rupiah volatility Indonesian markets and the Rupiah face volatility following hawkish remarks from Fed Chair Kevin Warsh and geopolitical tensions affecting energy prices and US interest rate expectations. 22 sources. https://clstr.news/cluster/indonesias-ihsg-and-rupiah-face-early-weekly-pressure ### 2026-08-27: Indonesia stock market and Rupiah show recovery amid new BI Governor appointment The Jakarta Composite Index (IHSG) rebounded significantly to 6,521, while the Rupiah strengthened to Rp17,693 following the appointment of Destry Damayanti as Bank Indonesia Governor. 24 sources. https://clstr.news/cluster/malaysia-stock-market-poised-to-halt-recent-slide ### 2026-08-26: Indonesia appoints leadership for new Mineral and Strategic Commodity Exchange Indonesia is appointing leadership for its new Mineral and Strategic Commodity Exchange (BMKS), aiming to enhance economic sovereignty and transparent commodity pricing by 2027. 5 sources. https://clstr.news/cluster/indonesia-appoints-leadership-for-new-mineral-and-strategic-commodity-exchange ### 2026-08-25: Indonesian markets face volatility as IHSG drops and Rupiah reacts to global shifts The Indonesian IHSG fell 1.48% to 6,405 amid domestic concerns, while the Rupiah fluctuated following shifts in global oil prices and Middle East diplomatic developments. 28 sources. https://clstr.news/cluster/indonesia-composite-index-faces-potential-correction-amid-market-volatility ### 2026-08-22: Antam gold prices hit 2.5-month high amid US-Iran sanction threats Antam gold prices in Indonesia hit a 2.5-month high of Rp2,768,000 per gram amid US threats of secondary sanctions against nations trading with Iran and Indonesia's widening current account deficit. 19 sources. https://clstr.news/cluster/indonesian-banking-credit-grows-1358-amid-rupiah-strength ### 2026-08-18: Indonesia Composite Index closes lower at 6,394 amid geopolitical tensions The Indonesia Composite Index (IHSG) closed down 0.86 percent at 6,394 on August 19, 2026, amid geopolitical tensions and Bank Indonesia maintaining interest rates at 5.75 percent. 11 sources. https://clstr.news/cluster/ihsg-rises-075-to-6449-led-by-bayan-resources-surge ### 2026-08-14: Indonesia targets 2027 launch for Mineral and Strategic Commodity Exchange Indonesia plans to launch the Mineral and Strategic Commodity Exchange by January 2027, with OJK overseeing regulation and supervision to ensure market transparency. 3 sources. https://clstr.news/cluster/indonesia-targets-2027-launch-for-mineral-and-strategic-commodity-exchange ### 2026-08-14: Indonesia market reacts to 2027 budget targets and Danantara's IDX interest Indonesia's IHSG rose 1.59% following President Prabowo's 2027 budget targets, while Danantara explores acquiring IDX shares to boost market capitalization. 9 sources. https://clstr.news/cluster/indonesias-ihsg-rises-on-fiscal-targets-and-foreign-buying ### 2026-08-12: MSCI removes GOTO and CPIN from Global Standard Index MSCI's August 2026 review removed GOTO and CPIN from its Global Standard Index, with GOTO cited for low liquidity. Nine other stocks were also removed from the Small Cap Index, potentially triggering outflows. 18 sources. https://clstr.news/cluster/indonesia-composite-index-surges-following-market-correction ### 2026-08-05: Indonesia's IHSG Index Rises Amid Strong Q2 Growth and Rupiah Gains IHSG rose on 5‑6 Aug 2026, opening at 6.338‑6.379 and closing near 6.35, driven by 5.29 % Q2 GDP growth, rupiah strength around Rp 17,912/USD, and lower oil prices from Hormuz talks. 14 sources. https://clstr.news/cluster/indonesias-stock-index-gains-as-mining-holding-reports-180-trillion-rupiah-economic-distribution ### 2026-08-03: Indonesia's IHSG Index Climbs Over 1% to 6,319, Reentering Green Zone Indonesia's IHSG closed up 1.37% at 6,319 on 4 Aug 2026, after a July rally that gave the index its first monthly gain since 1990; early August trading showed a slight dip, keeping the index below its 200‑day M 3 sources. https://clstr.news/cluster/indonesias-ihsg-index-climbs-over-1-to-6319-reentering-green-zone ### 2026-08-02: Indonesia's OJK Forms Task Force to Regulate Future Mineral and Strategic Commodities Exchange OJK has set up Satgas BMKS to prepare regulation, supervision and infrastructure for a mineral and strategic‑commodities exchange slated to launch on 1 Jan 2027, under the new UU P2SK authority. 9 sources. https://clstr.news/cluster/indonesias-ojk-and-regional-leaders-drive-islamic-finance-expansion ### 2026-07-31: Indonesia's IHSG Closes in Green Zone as Foreign Investment Surges Indonesia’s IHSG closed up 0.8% in July, all major indices stayed green, market cap hit Rp 10.9 trillion, and first‑half FDI reached 240% of target. 17 sources. https://clstr.news/cluster/indonesia-stock-index-ihsg-gains-over-05-in-midday-session ### 2026-07-29: Indonesia's OJK targets Rp250 trillion capital market fundraising by 2026 Indonesia’s OJK aims to raise Rp250 trillion in capital‑market funds by 2026, with Rp125.7 trillion already secured and a pipeline of IPOs, PUTs, bonds and sukuk, while pushing market reforms. 4 sources. https://clstr.news/cluster/indonesias-ojk-targets-rp250-trillion-capital-market-fundraising-by-2026 ### 2026-07-28: Indonesia Stock Index (IHSG) Rises on Regional Rally, Nears Resistance Indonesia’s IHSG rallied late July, opening higher on July 31 and closing up 1.56% on July 30, with foreign net buying and technical support around 6,050‑6,130 and resistance near 6,200‑6,300. 18 sources. https://clstr.news/cluster/indonesias-ihsg-rebounds-amid-foreign-bluechip-selloff-and-dividend-payouts ### 2026-07-25: Indonesia launches BPI Danantara to overhaul state-owned enterprises Indonesia’s BPI Danantara aims to trim over 1,000 BUMN to 200‑300 firms, but faces criticism for opaque finances and accusations of shadow privatisation, with assets claimed up to Rp15 000 trillion. 4 sources. https://clstr.news/cluster/indonesia-launches-bpi-danantara-to-overhaul-state-owned-enterprises ### 2026-07-25: Indonesia retains BBB credit rating as S&P cites fiscal discipline S&P kept Indonesia’s credit rating at BBB, citing fiscal discipline, while Prof. Sylvia Narulita urged inclusive, sustainable growth amid inflation and climate risks. 2 sources. https://clstr.news/cluster/indonesia-retains-bbb-credit-rating-as-sp-cites-fiscal-discipline ### 2026-07-21: Nickel Market Outlook 2026: Oversupply Persists, Prices Stable Nickel remains in oversupply through 2026, with prices hovering US$17‑$18.8k/ton; Indonesia’s quota changes are insufficient to lift prices. Nickel‑oxide demand is set to hit 2.6 Mt by 2030, bolstered bybattery 2 sources. https://clstr.news/cluster/nickel-market-outlook-2026-oversupply-persists-prices-stable ### 2026-07-21: Indonesia Stock Exchange lists 59 firms for possible delisting, three BUMNs among them Indonesia's stock exchange said 59 companies, including three state‑owned firms (WSKT, WIKA, INAF), face possible delisting after prolonged trading suspensions and financial troubles. 3 sources. https://clstr.news/cluster/indonesia-stock-exchange-lists-59-firms-for-possible-delisting-three-bumns-among-them ### 2026-07-20: Jakarta Composite Index slides amid escalating US‑Iran conflict Jakarta Composite Index fell amid a U.S.–Iran conflict spike, oil price rises, and disrupted Hormuz shipping; regional markets showed mixed moves. 4 sources. https://clstr.news/cluster/jakarta-composite-index-slides-amid-escalating-usiran-conflict ### 2026-07-20: Indonesia palm oil export value shaped by production, global CPO prices and rupiah exchange Research shows Indonesia’s palm‑oil exports depend on CPO prices and rupiah rates, while recent May 2026 data show production down 7 % and exports falling 28 % month‑on‑month. 2 sources. https://clstr.news/cluster/indonesia-palm-oil-export-value-shaped-by-production-global-cpo-prices-and-rupiah-exchange ### 2026-07-20: Pos Indonesia Misses Sukuk Payment, Rating Near Default PT Pos Indonesia missed a Rp24.12 bn sukuk payment due 7 July 2026, prompting a near‑default Fitch rating and a request for payment deferral amid a company‑wide restructuring. 2 sources. https://clstr.news/cluster/pos-indonesia-misses-sukuk-payment-rating-near-default ### 2026-07-20: Indonesia's IHSG extends rally with gains on July 21, 2026 IHSG rose 0.67% to 6,273.57 on July 21, extending a nine‑day rally; prior session saw a 0.86% gain with net foreign sell Rp 302 bn, led by Bank Mandiri. 3 sources. https://clstr.news/cluster/indonesias-ihsg-extends-rally-with-gains-on-july-21-2026 ### 2026-07-19: Indonesia's OJK Drives Major Financial Sector Reforms and Initiatives OJK revokes nine rural bank licences, backs SAL placement, reports 11.5% credit growth, notes drop in unbanked, supports PFII‑KEK synergy, while banks target asset growth and expand micro‑finance. 21 sources. https://clstr.news/cluster/bank-syariah-nasional-aims-for-rp87-trillion-assets-boosts-halal-umkm-program ### 2026-07-19: Moody's Keeps Malaysia Rating at A3 While Flagging Rising Risks for Indonesia Moody's maintains Malaysia’s A3 rating, citing fiscal strength, while warning that Indonesia’s policy uncertainty and fiscal risks have worsened, pushing its outlook more negative. 2 sources. https://clstr.news/cluster/moodys-keeps-malaysia-rating-at-a3-while-flagging-rising-risks-for-indonesia ### 2026-07-17: President Prabowo Leads TNI‑Backed Nationwide Harvest to Boost Food Self‑Sufficiency President Prabowo led a TNI‑backed nationwide harvest on 17 July 2026, linking the event to food‑self‑sufficiency, bio‑ethanol development, investment confidence and a resilient economy. 16 sources. https://clstr.news/cluster/president-prabowo-subianto-hands-out-aid-in-tanimbar-and-greets-crowds-in-malang ### 2026-07-17: Indonesia's Stock Index Surges 4.2% to Lead ASEAN Indonesia's IHSG rose 4.24 % to 6,175.54, topping ASEAN markets; market cap hit Rp 10.749 trillion with higher trading volume. 9 sources. https://clstr.news/cluster/msci-updates-extreme-price-increase-rules-affecting-indonesian-stocks ### 2026-07-17: Indonesia’s Credit Ratings Diverge as S&P Holds Sovereign BBB, Fitch Cuts Pos Indonesia to C S&P upheld Indonesia’s sovereign BBB rating, while Fitch slashed PT Pos Indonesia’s rating to C over missed sukuk payments. 2 sources. https://clstr.news/cluster/indonesias-credit-ratings-diverge-as-sp-holds-sovereign-bbb-fitch-cuts-pos-indonesia-to-c ### 2026-07-16: Indonesia's 2026 Investment Outlook Highlights Bond ORI030 for Beginners Indonesia's market slump makes stocks cheap, while 7%+ government bond yields and the retail ORI030 bond are promoted as beginner‑friendly investment options. 2 sources. https://clstr.news/cluster/indonesias-2026-investment-outlook-highlights-bond-ori030-for-beginners ### 2026-07-16: President Prabowo Urges Unity and Defends Indonesia’s Work Ethic President Prabowo warned elites against anarchic politics and, at a gas project ceremony, defended Indonesians against claims they are lazy, highlighting their hard work. 2 sources. https://clstr.news/cluster/president-prabowo-urges-unity-and-defends-indonesias-work-ethic ### 2026-07-15: Indonesia's OJK pushes ahead with mineral exchange launch by 2027 Indonesia's OJK is fast‑tracking a mineral exchange to launch on 1 Jan 2027, forming a selection committee and seeking tax incentives for gold ETFs to boost the market. 4 sources. https://clstr.news/cluster/indonesias-ojk-pushes-ahead-with-mineral-exchange-launch-by-2027 ### 2026-07-15: Indonesia Infrastructure Finance secures Rp655.5 bn for sustainable infrastructure Indonesia Infrastructure Finance raised Rp655.5 bn via bonds and perpetual securities to boost sustainable infrastructure financing, covering connectivity, digital and health projects. 2 sources. https://clstr.news/cluster/indonesia-infrastructure-finance-secures-rp6555-bn-for-sustainable-infrastructure ### 2026-07-15: Bank Indonesia drives Islamic economic growth in Eastern Indonesia through pesantren enterprises and FESyar KTI 2026 Bank Indonesia supports a NTB pesantren’s Rp 3 billion omzet and hosts FESyar KTI 2026, targeting Rp 11 billion in syariah financing and boosting eastern Indonesia’s Islamic UMKM sector. 2 sources. https://clstr.news/cluster/bank-indonesia-drives-islamic-economic-growth-in-eastern-indonesia-through-pesantren-enterprises-and ### 2026-07-15: Indonesia labor and anti‑corruption groups back President Prabowo's graft crackdown Indonesia's labor coalition and anti‑corruption group KOSMAK pledged support for President Prabowo Subianto’s anti‑graft drive, while urging investigation of alleged coal‑sector corruption by official Febrie Ad 4 sources. https://clstr.news/cluster/indonesia-labor-and-anticorruption-groups-back-president-prabowos-graft-crackdown ### 2026-07-14: Nickel Industry Shifts: Canada Expands Production While Australian Companies Adjust to Price Changes Canada posted 130,000 t of nickel in 2023, advancing projects sustainably, while Australian miners grapple with price swings tied to Indonesia’s quota changes, prompting production pauses and strategy reviews. 5 sources. https://clstr.news/cluster/nickel-industry-shifts-canada-expands-production-while-australian-companies-adjust-to-price-changes ### 2026-07-14: Indonesia's Energy Minister Bahlil Lahadalia Faces Political Insult Over Coal Issue Energy Minister Bahlil Lahadalia was insulted by PDIP leader Deddy Sitorus, sparking Golkar's condemnation and calls to keep the coal dispute out of politics. 2 sources. https://clstr.news/cluster/indonesias-energy-minister-bahlil-lahadalia-faces-political-insult-over-coal-issue ### 2026-07-14: Indonesia's Bursa Efek adds 37 stocks to high‑shareholding concentration list, total now 51 BEI revised its HSC rules, adding a price‑impact‑ratio test and 37 new stocks, bringing the high‑shareholding concentration list to 51 companies that will be dropped from main indices. 8 sources. https://clstr.news/cluster/indonesia-stock-exchange-adds-37-stocks-to-high-shareholding-concentration-list ### 2026-07-14: Indonesia's BBB credit rating held as foreign debt nears $444 billion S&P kept Indonesia’s BBB rating stable as foreign debt hit US$444 bn (≈Rp8 trn), with the debt‑to‑GDP ratio still under 40%, and the stock index rose modestly. 21 sources. https://clstr.news/cluster/sp-holds-indonesias-bbb-credit-rating-stable ### 2026-07-14: Freeport Indonesia projects up to $7 billion in annual state revenue by 2030 Freeport Indonesia forecasts state contributions rising to over US$7 billion annually by 2030, with US$4.7 billion expected in 2027, driven by higher copper output and new mining projects. 3 sources. https://clstr.news/cluster/freeport-indonesia-projects-up-to-7-billion-in-annual-state-revenue-by-2030 ### 2026-07-13: Antam gold price climbs to 2.635 million rupiah per gram Antam gold rose to 2.635 million rupiah per gram on 15 July 2026, with buy‑back at 2.382 million; taxes of 0.25 % purchase and 1.5 % on large buy‑backs apply. 16 sources. https://clstr.news/cluster/indonesia-pushes-infrastructure-expansion-with-projects-worth-over-rp1-trillion ### 2026-07-13: Indonesia rolls out import‑duty cuts and other measures to curb inflation Indonesia will waive import duties on plastic, LPG and aviation parts to ease food‑price inflation, with 0% duty measures and a new finance regulation announced by Airlangga Hartarto. 8 sources. https://clstr.news/cluster/indonesia-emphasizes-trade-as-bridge-and-ramps-up-rareearth-metal-downstreaming ### 2026-07-12: Indonesia's IHSG Rises as Market Gains, TPIA Rebounds and Rupiah Shows Strength Indonesia's IHSG climbed above 6.000 in July, with many green stocks and sector gains; TPIA saw strong foreign buying and a new waste‑to‑energy project; the rupiah edged weaker but may strengthen amid softer US 10 sources. https://clstr.news/cluster/hong-kong-and-indonesia-stock-markets-extend-gains-in-fourth-straight-session ### 2026-07-12: President Prabowo Subianto’s anti‑corruption move praised by Indonesian civil groups Indonesia’s President Prabowo Subianto was praised for shifting a major coal‑supply corruption probe from police to the Attorney General, a move seen as bolstering anti‑corruption efforts. 4 sources. https://clstr.news/cluster/president-prabowo-subiantos-anticorruption-move-praised-by-indonesian-civil-groups ### 2026-07-12: President Prabowo Subianto condemns incitement to arson and pushes anti‑corruption drive President Prabowo warned against leaders urging arson, called them traitors, and stressed unity across parties while highlighting anti‑corruption probes into BGN and Jampidsus as part of his “rotten fish starts 3 sources. https://clstr.news/cluster/president-prabowo-subianto-condemns-incitement-to-arson-and-pushes-anticorruption-drive ### 2026-07-12: Indonesia's IIF secures Rp655bn funding while banks expand wealth services and Pos Indonesia delays sukuk IIF raised Rp655bn for sustainable infrastructure; Bank Ina partners to boost wealth services; banks hold Rp117tn in corporate bonds; Pos Indonesia delays a Rp24bn sukuk payment. 4 sources. https://clstr.news/cluster/indonesian-banks-keep-deposit-rates-steady-remain-top-corporate-bond-investors ### 2026-07-12: Indonesia's BBB Credit Rating Held by S&P Boosts Market Confidence S&P kept Indonesia’s sovereign rating at BBB with a stable outlook, citing fiscal discipline and 5 % growth prospects; the news lifted the IHSG and attracted foreign buying in bank stocks, while S&P warned of‑r 10 sources. https://clstr.news/cluster/foreign-investors-net-buy-indonesian-stocks-amid-market-gains ### 2026-07-11: Indonesia's Energy Ministry Tightens Oversight of Coal DMO Supply Indonesia’s energy ministry tightens coal DMO oversight, assigning 212 Mt total (154 Mt for PLN), with contracts for 144 Mt and delivery of 130.5 Mt; DPR urges transparent procurement. 4 sources. https://clstr.news/cluster/indonesia-tightens-oversight-of-coal-procurement-for-state-utility-pln ### 2026-07-11: President Prabowo Subianto Urges Anti‑Corruption Crackdown and Monitoring of Free Meal Program President Prabowo Subianto warned that state‑owned enterprises fuel corruption and ordered officials at every level to oversee the free nutritious‑meal program to curb abuses. 2 sources. https://clstr.news/cluster/president-prabowo-subianto-urges-anticorruption-crackdown-and-monitoring-of-free-meal-program ### 2026-07-10: Indonesia caps nickel output and adds coal supply for state power Indonesia limits nickel production to curb oversupply while boosting coal output for state utility PLN to secure electricity supply. 2 sources. https://clstr.news/cluster/indonesia-caps-nickel-output-and-adds-coal-supply-for-state-power ### 2026-07-10: Indonesia's BRI launches ORI030 retail bond with up to 7% coupon BRI is selling ORI030 retail bonds (3‑ and 6‑year tenors) with coupons up to 7% annually, minimum Rp 1 million, purchasable via branches or digital apps from 6‑30 July 2026. 2 sources. https://clstr.news/cluster/indonesia-launches-ori030-retail-bond-with-up-to-7-coupon ### 2026-07-10: Indonesia’s Ministry of Labor and banks bjb, BRI forge partnerships to enhance staff training and digital services Indonesia’s Ministry of Labour and bank bjb signed an MoU to boost staff training and banking services, while BRI’s Veteran branch presented digital banking solutions to the Digital Government Directorate of K​ 4 sources. https://clstr.news/cluster/indonesias-ministry-of-labor-and-banks-bjb-bri-forge-partnerships-to-enhance-staff-training-and-digi ### 2026-07-10: Indonesia's stock market and fiscal officials push reforms and transparency to boost investment Indonesia’s stock exchange chief and Finance Minister stress reforms, transparency and fiscal discipline to enhance market attractiveness and national competitiveness. 3 sources. https://clstr.news/cluster/indonesias-stock-market-and-fiscal-officials-push-reforms-and-transparency-to-boost-investment ### 2026-07-09: Indonesia IPO Activity Slows Amid Low Listings, BEI Considers Target Revision Indonesia's BEI logged seven IPOs raising Rp2.16 trn, sees low listings and may revise its 50‑IPO target; BRI launches ORI030 bonds, while the IHSG climbs 0.8% and new listings JELI, BACH tumble. 6 sources. https://clstr.news/cluster/indonesias-stock-exchange-highlights-new-ipos-as-investment-climate-improves ### 2026-07-09: Indonesia's IHSG climbs 0.8% as market capitalisation tops 10.34 trillion rupiah Indonesia's IHSG gained 0.8% to 5,924 points, market cap rose to 10.34 trillion rupiah, BEI added seven IPOs raising 2.16 trillion, and foreign investors logged a net sell of 421.7 billion rupiah. 5 sources. https://clstr.news/cluster/indonesias-composite-stock-index-climbs-to-5885 ### 2026-07-08: Indonesia advances financial governance with BRI Finance partnership and BPR consolidation BRI Finance partnered with Padang prosecutors to enhance governance, while OJK merged eight BPRs into PT BPR Pusaka Dana to strengthen Indonesia’s rural banking sector. 3 sources. https://clstr.news/cluster/indonesia-advances-financial-governance-with-bri-finance-partnership-and-bpr-consolidation ### 2026-07-08: US Investment Fund Expands Funding Drive in Malaysia and Indonesia The US DFC, with a $205 bn fund, is pursuing major investments in Malaysia’s tech and infrastructure sectors and exploring nuclear and financial projects in Indonesia. 2 sources. https://clstr.news/cluster/us-investment-fund-expands-funding-drive-in-malaysia-and-indonesia ### 2026-07-08: Indonesia draws US development finance and domestic bond offerings to boost investment US DFC seeks nuclear, infrastructure and finance projects in Indonesia as its capacity jumps to $205 bn; bank bjb promotes retail ORI bonds with 6.9‑7% coupons for sustainable development. 2 sources. https://clstr.news/cluster/indonesia-draws-us-development-finance-and-domestic-bond-offerings-to-boost-investment ### 2026-07-08: Danantara merger creates Indonesia's largest state‑owned asset manager Danantara merged four Indonesian BUMN asset managers into a single entity, with Mandiri Manajemen Investasi surviving, to streamline state asset management and boost economic value. 3 sources. https://clstr.news/cluster/danantara-merger-creates-indonesias-largest-stateowned-asset-manager ### 2026-07-08: Indonesia Stock Market Faces Downgrade Risk as S&P Dow Jones Puts IHSG on Watchlist S&P Dow Jones placed Indonesia on a watchlist for possible downgrade to frontier status over share‑ownership transparency, prompting a 1.9% fall in the IHSG and spurring BEI reforms on free‑float and disclosure 14 sources. https://clstr.news/cluster/indonesia-faces-possible-downgrade-to-frontier-market-by-sp-dow-jones ### 2026-07-08: Indonesia stock market ends five-day rally amid Middle East tensions Indonesia's Jakarta Composite Index fell after five days of gains, ending near 5,870 as Middle East tensions lifted oil prices and pressured financial and housing stocks. 2 sources. https://clstr.news/cluster/indonesia-stock-market-ends-five-day-rally-amid-middle-east-tensions ### 2026-07-07: Indonesia's OJK reports venture capital financing reaches Rp16.36 trillion in May 2026 Indonesia's OJK reports venture‑capital financing at Rp16.36 trillion in May 2026, a 0.09% YoY rise, while noting several firms failed equity requirements. 2 sources. https://clstr.news/cluster/indonesias-ojk-reports-venture-capital-financing-reaches-rp1636-trillion-in-may-2026 ### 2026-07-07: Indonesia centralises export of coal, palm oil and ferroalloys via new state-owned channel Indonesia’s President Prabowo announced that coal, palm oil and ferroalloy exports will be channeled through the new state‑owned DSI, prompting a >3% market drop and farmer price falls. 2 sources. https://clstr.news/cluster/indonesia-centralises-export-of-coal-palm-oil-and-ferroalloys-via-new-state-owned-channel ### 2026-07-07: Indonesia launches task force and local measures to curb layoffs Indonesia's labor office recorded 142 layoffs in Bantul, while the government’s PHK task force and training programmes aim to mitigate layoffs and boost worker skills nationwide. 4 sources. https://clstr.news/cluster/indonesias-labor-ministry-and-bantul-district-address-surge-in-layoffs ### 2026-07-06: Indonesia's IHSG Index Rises as Foreign Investors Trade and MSCI Keeps Restrictions Indonesia's IHSG rallied to 5,986.5 on July 7, fell to 5,920 on July 8, with foreign investors net‑selling billions of rupiah and MSCI keeping its inclusion limits, while Fed minutes and regional chip news swir 10 sources. https://clstr.news/cluster/indonesia-stock-index-rises-as-fed-dovish-outlook-fuels-market-optimism ### 2026-07-06: Indonesia advances streamlining of state-owned enterprises and Telkom group Indonesia formed a multi‑agency team to supervise BUMN streamlining, while Telkom completed the restructuring of ten entities through divestments, mergers and liquidations, creating leaner, more competitive, a​ 6 sources. https://clstr.news/cluster/indonesia-advances-streamlining-of-state-owned-enterprises-and-telkom-group ### 2026-07-05: Indonesia Treasury Bond Auction Targets Rp32 Trillion Indonesia's Finance Ministry will auction nine Treasury bond series on 7 July 2026, aiming for Rp32 trillion (up to Rp48 trillion) to fund the 2026 budget. 2 sources. https://clstr.news/cluster/indonesia-treasury-bond-auction-targets-rp32-trillion ### 2026-07-04: Indonesia's Nickel Export Ban Boosts Domestic Growth and Global Green-Tech Supply Indonesia’s raw‑nickel export ban and a thriving “super‑app” ecosystem are attracting battery makers, leveraging its young workforce to become a key player in the global green‑tech supply chain. 2 sources. https://clstr.news/cluster/indonesias-nickel-export-ban-boosts-domestic-growth-and-global-green-tech-supply ### 2026-07-04: Indonesia's IHSG rises as bank and blue‑chip stocks gain IHSG is projected higher as analysts recommend blue‑chip stocks; bank shares surged with BBCA up 4.4%, but experts say the rally is a rebound, not a reversal. 2 sources. https://clstr.news/cluster/indonesias-ihsg-rises-as-bank-and-bluechip-stocks-gain ### 2026-07-03: Indonesia's IHSG slips 0.35% as foreign investors sell, then edges higher IHSG dipped 0.35% to 5,875 as foreign investors sold Rp 2.8 trillion, but later rose 0.69% to 5,916, with foreigners buying cheap commodity shares. 9 sources. https://clstr.news/cluster/indonesias-ihsg-index-faces-foreign-selling-pressure-amid-growth-optimism ### 2026-07-03: Indonesia cuts 240 state‑owned firms and scrutinises deputy‑minister board roles Indonesia will cut 240 BUMN entities and integrate their assets, while 30 deputy ministers serving as BUMN commissioners face criticism for potential governance conflicts. 3 sources. https://clstr.news/cluster/indonesia-cuts-240-stateowned-firms-and-scrutinises-deputyminister-board-roles ### 2026-07-02: Indonesia trims 240 state‑owned firms as BUMN consolidation accelerates Indonesia is cutting 240 state‑owned firms to streamline BUMN, aiming for 250 entities, with integrated asset management and new commissioner standards. 7 sources. https://clstr.news/cluster/indonesia-moves-ahead-with-bumn-consolidation-as-2025-financial-reports-are-completed ### 2026-07-01: Indonesia merges seven state logistics firms under Danantara plan Indonesia’s BPI Danantara merged seven state logistics firms into PT Multi Terminal Indonesia to cut fragmentation, lower costs and strengthen national competitiveness, aligning with long‑term development goals 2 sources. https://clstr.news/cluster/indonesia-merges-seven-state-logistics-firms-under-danantara-plan ### 2026-07-01: Indonesia's IHSG climbs over 1% in early July as banks boost index amid rupiah weakness Indonesia’s IHSG rose over 1% on July 2, led by major banks, while the rupiah slipped toward Rp 18,000 per USD after a trade deficit and easing geopolitical tensions. 9 sources. https://clstr.news/cluster/indonesias-ihsg-index-gains-slightly-amid-analyst-forecasts-of-further-decline ### 2026-07-01: Indonesia lowers July 2026 crude palm oil reference price as global demand eases Indonesia set July 2026 crude palm oil reference price at $1,000.90 per ton, 2.78% lower than June, citing weaker global demand and lower crude oil prices. 2 sources. https://clstr.news/cluster/indonesia-lowers-july-2026-crude-palm-oil-reference-price-as-global-demand-eases ### 2026-06-30: Indonesia boosts holiday tourism with ticket promos and zoo events Indonesia's key attractions offer discounted tickets for Borobudur, Prambanan and Keraton Ratu Boko, while Surabaya Zoo hosts a festive 'Back To Zoo' event during the school holidays. 6 sources. https://clstr.news/cluster/indonesia-suv-owners-urged-to-check-vehicles-before-holiday-travel ### 2026-06-30: Indonesian Ministry Moves to Avert 50,000 Layoffs as Industrial Gas Prices Surge Indonesia advises workers to review termination papers carefully and, amid soaring gas costs, the labour ministry plans measures to prevent up to 50,000 layoffs at a major ceramic plant. 3 sources. https://clstr.news/cluster/indonesian-ministry-moves-to-avert-50000-layoffs-as-industrial-gas-prices-surge ### 2026-06-29: Indonesia and Philippines vie to capture more value from nickel Indonesia now dominates global nickel production and pricing after shifting to domestic processing; the Philippines is debating policies to avoid depleting ore and to develop its own downstream industry. 4 sources. https://clstr.news/cluster/indonesia-and-philippines-vie-to-capture-more-value-from-nickel ### 2026-06-29: Indonesia's stock market pipeline shows 61 planned IPOs valued at Rp 52.38 trillion Indonesia's OJK reports 61 upcoming IPOs worth Rp 52.38 trillion, while BEI notes eight firms in its pipeline and total fundraising of Rp 81.09 trillion this year. 7 sources. https://clstr.news/cluster/indonesias-bursa-efek-indonesia-readies-ipo-pipeline-and-shares-ownership-shift ### 2026-06-28: Indonesia's Single‑Window Export Policy Gains Support from Shipowners and Regulators Indonesia’s new single‑window export system for coal, palm oil and ferro‑alloy, run by state firm DSI, is praised by shipowners and closely watched by regulators for its impact on trade transparency and the ins 2 sources. https://clstr.news/cluster/indonesias-singlewindow-export-policy-gains-support-from-shipowners-and-regulators ### 2026-06-28: Indonesia expands UMKM financing and cuts marketplace fees to boost micro‑businesses Indonesia lowers UMKM loan rates, keeps KUR at 6%, and mandates a permanent 50% marketplace fee cut, aiming to boost micro‑businesses and sustain growth. 8 sources. https://clstr.news/cluster/indonesia-urges-researchindustry-collaboration-and-business-expansion-to-boost-investment ### 2026-06-28: Indonesia's IHSG slides 1.3% as rupiah steadies near 17,850 per dollar Indonesia's IHSG fell 1.3% to 5,820 amid sector losses, while the rupiah rose to around 17,850 per dollar on easing Middle‑East tensions and stable oil prices. 18 sources. https://clstr.news/cluster/indonesias-stock-slump-and-rupiah-fall-underscore-fiscal-strain ### 2026-06-27: President Prabowo Subianto vows to trim BUMNs to 250, raise R&D budget to Rp4 trillion and set AI‑risk guidelines At the KSTI 2026 closing, President Prabowo pledged to cut Indonesia’s BUMNs to 250, raise the R&D budget to Rp4 trillion, and call for tighter AI and nuclear safety oversight while seeking academic input. 32 sources. https://clstr.news/cluster/jokowi-urges-psi-to-support-prabowogibran-twoterm-agenda ### 2026-06-27: Indonesia's IHSG plunges amid MSCI doubts and high rate hikes Indonesia’s IHSG fell 4.55% to 5,896, driven by MSCI status doubts, high BI rates and a weak rupiah, with analysts warning of continued volatility for weeks. 2 sources. https://clstr.news/cluster/indonesias-ihsg-plunges-amid-msci-doubts-and-high-rate-hikes ### 2026-06-26: Indonesia redirects LNG to Java factories to curb industrial gas shortage Indonesia will redirect LNG from eastern islands to Java factories to offset a gas shortage that has driven up costs and threatens 50,000 industrial jobs, especially in ceramics. 2 sources. https://clstr.news/cluster/indonesia-redirects-lng-to-java-factories-to-curb-industrial-gas-shortage ### 2026-06-26: Indonesia Stock Exchange reforms draw MSCI scrutiny MSCI reviews Indonesia’s market status as the IDX moves toward demutualisation, adding several high‑shareholding stocks to its HSC list while grappling with governance concerns over state ownership. 2 sources. https://clstr.news/cluster/indonesia-stock-exchange-reforms-draw-msci-scrutiny ### 2026-06-25: Indonesia delays Panda Bond issuance to July 2026 Indonesia’s Finance Minister says the $1 bn yuan‑denominated Panda Bond is delayed to end‑July 2026 to attract more investors, while officials confirm the licensing process with the People’s Bank of China stays 5 sources. https://clstr.news/cluster/indonesia-delays-panda-bond-issuance-to-july-2026 ### 2026-06-25: Indonesia's rolling blackouts highlight power sector challenges Rolling blackouts on Java since 21 June 2026 disrupted households and businesses; PLN says the grid is improving, the president orders faster fixes, and experts urge a renewable‑energy transition and an inquiry 4 sources. https://clstr.news/cluster/indonesia-faces-power-outages-while-targeting-offshore-wind-growth ### 2026-06-25: Indonesia's Customs Authority Highlights Supply‑Chain Resilience Measures SCI CEO sets five pillars for supply‑chain resilience; Indonesia’s customs announces AEO updates, faster clearance times and new 2025 regulations amid oil‑price and currency volatility. 6 sources. https://clstr.news/cluster/tugu-insurance-boosts-digital-reputation-with-erp-integration-and-brand-awards ### 2026-06-25: Indonesia gas price surge drives LNG costs up, threatens ceramic factories Indonesia’s LNG‑linked gas price jump to US$20/MMBTU threatens ceramic factories, risking 55,000 jobs as AGIT allocation drops to 27.5%; government reviews HGBT rules. 2 sources. https://clstr.news/cluster/indonesia-gas-price-surge-drives-lng-costs-up-threatens-ceramic-factories ### 2026-06-25: Indonesia's IHSG Plummets Amid Foreign Outflows and Currency Weakness Indonesia's IHSG fell to 5.835 amid a Rp 6 trillion foreign outflow, big‑cap sell‑off, and a weakening rupiah projected near 18,000 per dollar, while investors watch Fed policy and Middle‑East tensions. 11 sources. https://clstr.news/cluster/indonesias-stock-index-rebounds-as-major-banks-rally ### 2026-06-24: Indonesia Keeps Minyakita Cooking Oil Price at Rp15,700 per Liter Indonesia keeps Minyakita oil’s HET at Rp15,700/litre; DPR member Nasim Khan applauds the move but calls for tighter distribution monitoring to curb over‑pricing and hoarding. 2 sources. https://clstr.news/cluster/indonesia-keeps-minyakita-cooking-oil-price-at-rp15700-per-liter ### 2026-06-24: Indonesia advances mineral export reforms with new trade board and tighter oversight Indonesia will tighten export oversight of coal, palm oil and ferro‑alloys via DSI and launch a mineral exchange in 2027 to boost transparency and curb under‑invoicing. 2 sources. https://clstr.news/cluster/indonesia-advances-mineral-export-reforms-with-new-trade-board-and-tighter-oversight ### 2026-06-24: Indonesia Retains Emerging‑Market Classification as MSCI Extends Review to November MSCI kept Indonesia in the emerging‑market tier but extended its review to November 2026, leaving downgrade risks and potential multi‑billion‑dollar outflows on the table as reforms continue. 4 sources. https://clstr.news/cluster/indonesia-faces-potential-msci-downgrade-amid-market-reform-review ### 2026-06-24: Indonesia's OJK approves merger of BPR Ophir into BPR Swadaya Anak Nagari OJK approved the merger of BPR Ophir into BPR Swadaya Anak Nagari to boost capital, competitiveness and governance of rural banks in West Sumatra. 5 sources. https://clstr.news/cluster/indonesias-ojk-imposes-up-to-rp15-bn-fines-on-financial-influencers-and-backs-market-reform-after-ms ### 2026-06-24: Indonesia reports 2026 regional fiscal transfers and trade surplus for Bali and South Kalimantan Indonesia's Ministry of Finance transferred Rp4.85 trillion to Bali in early 2026, while South Kalimantan posted a Rp16.48 trillion trade surplus and a fiscal surplus of Rp984.86 billion. 2 sources. https://clstr.news/cluster/indonesia-reports-2026-regional-fiscal-transfers-and-trade-surplus-for-bali-and-south-kalimantan --- Cite as: Indonesia market volatility and commodity exchange reforms. CLSTR, https://clstr.news/situations/indonesia-expands-mineral-policy-downstream-processing-drive-and-delayed-royalty-hike