IHSG Falls 0.80% on Oct 30, 2026 as Barito Group Stocks Slide

Key takeaways

• The Jakarta Composite Index (IHSG) fell 41.01 points, or 0.80%, to 5,057.05 at the close (09:00 UTC) on Friday, October 30, 2026, according to IDX closing data reported by CNBC Indonesia and Kontan and Yahoo Finance data.
• Stocks in the Barito group controlled by Prajogo Pangestu led the losses. Barito Pacific (BRPT) fell 6.96% and Petrindo Jaya Kreasi (CUAN) 6.83%, the biggest losers in the LQ45, Kontan reported.
• The LQ45 index of large, liquid stocks was almost flat, down 0.11 points, or 0.02%, at 515.17, Yahoo Finance data show. Decliners beat gainers by 523 to 187, with 81 unchanged, according to Kontan and CNN Indonesia.
• The rupiah weakened 0.06% to 18,147 per US dollar in the spot market while most Asian currencies rose, Kontan and CNN Indonesia reported. Bank Indonesia's JISDOR reference rate rose to 18,138.00 from 18,128.00.
• The IHSG lost 7.03% over the week and 16.70% in October, based on Yahoo Finance closing data. Friday's close was its lowest since October 19.

Session recap

Indonesian stocks ended a hard week with a second straight loss on Friday. The index fell below 5,000 during the morning before recovering part of the drop. For the regional picture, see Asian and global markets today. Thursday's 3.49% slide is covered in our IHSG brief for October 29.

The IHSG opened at 5,066.94 and reached a high of 5,116.01 in the first minutes, above Thursday's close, according to Yahoo Finance data. CNBC Indonesia said the index then reversed and hit a low of about 4,980 around 09:40 Jakarta time (02:40 UTC). Yahoo Finance data put the day's low at 4,979.34. At the midday break the IHSG was down 65.62 points, or 1.29%, at 5,032.44, CNBC Indonesia reported. It traded mostly between 5,000 and 5,060 in the afternoon and closed at 5,057.05.

Changes are calculated from the previous closes: IHSG 5,098.06 and LQ45 515.28 on October 29, spot rupiah 18,137 on October 29, and JISDOR 18,128.00 on October 29. A higher USD/IDR number means a weaker rupiah. Turnover figures differed between outlets, from Rp10.38 trillion (CNBC Indonesia) to Rp11.26 trillion (CNN Indonesia), so they are not shown in the table.

Over the week the IHSG fell from 5,439.26 at the October 23 close, a loss of 7.03%. October ends with the index down 16.70% from 6,071.14 on September 30, according to Yahoo Finance data. The month included an 11.57% drop on October 16 and a close of 4,996.61 on October 19, the lowest of the month.

What drove it

Barito group stocks hit their lower limits

Bloomberg Technoz said stocks linked to tycoon Prajogo Pangestu were the main weight on the index in the morning. Barito Pacific fell 6.95% to Rp1,070 per share at the midday break and hit its auto-reject-bottom limit, the largest one-day fall the exchange allows. Bloomberg Technoz said CUAN and Chandra Daya Investasi (CDIA) also hit that limit, with sell queues of hundreds of thousands of lots, and named Petrosea (PTRO) as another drag. At the close, CNBC Indonesia listed Bayan Resources (BYAN), Bank Rakyat Indonesia (BBRI), Barito Renewables Energy (BREN), Barito Pacific and Chandra Asri Pacific (TPIA) as the biggest drags. None of the sources we checked gave a company-specific reason for the Barito selling, so the cause has not been confirmed.

Some large stocks cushioned the fall. CNBC Indonesia said Astra International (ASII), GoTo (GOTO), Bank Central Asia (BBCA), Perusahaan Gas Negara (PGAS) and Olympus Strategic Indonesia (NATO) supported the index. PGAS rose 8.64%, the best LQ45 performer, Kontan reported. That helps explain why the LQ45 ended almost flat while the broader index fell.

Sector breadth

Sector figures differed by provider. Kontan said transportation fell 3.13% and basic materials 2.84%, while CNBC Indonesia, using Refinitiv data, said utilities fell 4.85%.

Foreign flows

Foreign investors were net buyers of Rp253.09 billion across the market in the morning session, CNBC Indonesia reported, citing Stockbit Sekuritas data. GOTO and Bumi Resources (BUMI) drew the most foreign buying, while BBRI had the largest foreign selling, at Rp114.88 billion. A full-day foreign flow figure for Friday had not been confirmed by a source we could open when this brief was written. Our analysis of foreign selling and the MSCI review explains why flows matter so much this month.

US data and global risk

CNBC Indonesia pointed to a Wall Street selloff, strong US economic data and rising US inflation as negative factors for Indonesian stocks and the rupiah. It said US PCE prices rose 0.5% month on month in September and core PCE rose 0.3%, while US third-quarter GDP grew at a 3.4% annual rate. CNN Indonesia said core PCE was up 3.1% year on year and that GDP beat a 3.2% forecast. Analyst Ibrahim Assuaibi told CNN Indonesia the data strengthened expectations of a Federal Reserve rate hike in December.

Why the rupiah weakened

The rupiah slipped while most Asian currencies firmed against the dollar. Kontan said the Korean won gained 0.58% and the Thai baht 0.14% as of 15:00 Jakarta time (08:00 UTC). Ibrahim told CNN Indonesia that reports of US military options against Iran had unsettled markets again. "Pasar kembali bergejolak setelah muncul laporan mengenai opsi militer Amerika Serikat terhadap Iran," he said ("Markets were rattled again after reports emerged of US military options against Iran"). Ibrahim also said higher oil prices and a weaker rupiah could raise production costs ahead of the October inflation data. The rupiah's recent lows are covered in our report on the rupiah near its record low.

Political & policy watch

• Bank Indonesia. CNBC Indonesia reported that Bank Indonesia said its November BI Rate decision will depend on domestic and global conditions and will not automatically follow the Fed. Background: Bank Indonesia's October rate decision.
• Short-selling list. The Indonesia Stock Exchange removed BBCA, BUMI, ASII, BRPT and Indofood Sukses Makmur (INDF) from its November 2026 list of stocks eligible for short selling, CNBC Indonesia reported.
• Index rule change. The exchange plans to exclude stocks with high shareholding concentration (HSC) from the IHSG calculation from November 2, 2026, Warta Ekonomi reported on October 28.
• Bond yields. The 10-year Indonesian government bond yield eased to 7.643% from 7.706%, still near a six-year high, CNBC Indonesia reported.
• Domestic politics. Ibrahim told CNN Indonesia that student protests in several cities since early October have raised concerns about investor confidence.

What to watch next

Risk checklist for readers

• Group concentration: Stocks tied to one business group can move together. When several hit their daily limits at once, as the Barito stocks did on Friday, the index can swing sharply.
• Daily price limits: The auto-reject-bottom limit stops a stock from falling further in one session, but unfilled sell orders can carry over to the next day.
• Currency risk: The rupiah weakened against a firmer Asian trend. For foreign investors, returns depend on both share prices and the exchange rate.
• Scheduled data: Indonesian inflation and the BI Rate decision can move prices; check official release dates from Statistics Indonesia and Bank Indonesia.
• Differing data: Turnover, sector and foreign flow figures often differ between providers. Check the exchange and Bank Indonesia for official numbers.

This article is for information only and is not investment advice.