IHSG Rises 0.40% on Nov 6, 2026 as Banks Erase Early Losses

Key takeaways

• The Jakarta Composite Index (IHSG) rose 20.17 points, or 0.40%, to 5,050.43 at the close (09:00 UTC) on Friday, November 6, 2026, finishing at the day's high, according to CNBC Indonesia, IDN Times and Yahoo Finance data.
• The index had fallen 98.87 points, or 1.97%, to 4,931.39 by the end of the first session after a sharp Wall Street sell-off, then rallied from about 14:00 Jakarta time (07:00 UTC), CNBC Indonesia reported.
• The LQ45 index rose 4.63 points, or 0.90%, to 518.28. Finance was one of only two sectors to close higher, up 1.52%, while technology fell 3.16%, Kontan reported.
• Decliners still outnumbered gainers: 381 stocks fell, 192 rose and 141 were unchanged, according to Kontan, Detik and Kumparan.
• The rupiah weakened 0.04% to 18,089 per US dollar in the spot market, Kontan and IDN Times reported, and Bank Indonesia's JISDOR reference rate was 18,130, according to IDN Times.

Session recap

The IHSG spent most of Friday in negative territory before a late rally lifted it to a third straight daily gain. For the regional picture, see Asian and global market closes. Thursday's session is covered in our IHSG brief for November 5, and Tuesday's slide in IHSG falls 3.78% below 5,000 to a 52-week low.

The index opened 74.43 points, or 1.48%, lower at 4,955.83 and touched an intraday low of 4,925.10, according to IDN Times and Yahoo Finance data. CNBC Indonesia said it traded sideways between roughly 4,930 and 4,960 in the first session. The recovery came in the second session: IDN Times said the index briefly turned positive at 15:18 Jakarta time (08:18 UTC), slipped back, and moved into the green for good at 15:49 Jakarta time (08:49 UTC). It closed at its high of the day.

Changes are calculated from the previous closes on November 5: IHSG 5,030.26, LQ45 513.65, spot rupiah 18,082 and JISDOR 18,094. A higher USD/IDR number means a weaker rupiah. Kontan's closing table showed the IHSG at 5,050.42, a rounding difference of 0.01 point. Turnover figures differed by outlet, from Rp7.77 trillion (CNBC Indonesia) to Rp10.3 trillion (IDN Times), with Kontan at Rp9.97 trillion and Detik at Rp9.996 trillion, so turnover is not shown in the table. IDN Times also reported different breadth figures (231 up, 440 down). Over the week, the index slipped 0.13%, Detik reported, as Friday's close remained just below the October 30 close of 5,057.05.

What drove it

Wall Street's sell-off set a weak tone

US stocks fell sharply on Thursday, November 5. The S&P 500 dropped 4.36% to 7,353.73, Yahoo Finance data show, and CNBC Indonesia reported that the Nasdaq fell 5.52% to 24,314 and the Dow Jones 3.44% to 51,523. CNBC Indonesia linked the slide to concerns about slower AI infrastructure spending and possible tighter US data centre rules, with heavy selling in chip stocks such as SK Hynix and Samsung Electronics, and said the move could weigh on the domestic market. Jakarta's technology sector was the worst performer on Friday, down 3.16%, Kontan reported. All sector indices were lower at the midday break, led by basic materials (−4.05%), infrastructure (−2.95%) and energy (−2.81%), Kontan said.

Banks led the afternoon recovery

Bank Rakyat Indonesia (BBRI), Bank Mandiri (BMRI), Bank Central Asia (BBCA), Sinar Mas Multiartha (SMMA) and Astra International (ASII) contributed most to the index gain, CNBC Indonesia reported. The finance sector rose 1.52% and non-cyclical consumer goods 0.83%, according to Kontan; CNBC Indonesia, using Refinitiv sector data, put finance up about 2%. None of the outlets we opened gave a specific trigger for the afternoon buying, so the cause of the late rally has not been confirmed.

Foreign buying in state-owned stocks

Foreign investors were net buyers of Rp153.22 billion across the market in the first session, CNBC Indonesia reported, citing Stockbit Sekuritas data, with foreign purchases of Rp1.34 trillion and sales of Rp1.19 trillion. BBRI drew the largest net buying at Rp44.41 billion, followed by BMRI at Rp41.33 billion and ASII at Rp21.91 billion. A full-day foreign flow figure for Friday had not been published by a source we could open when this brief was written. Foreign investors had sold a net Rp98.41 trillion of Indonesian shares this year up to November 5, Investortrust reported, citing exchange data.

Miners and heavyweights that lagged

Barito Pacific (BRPT), EMAS, Merdeka Copper Gold (MDKA), Chandra Asri (TPIA) and Bumi Resources Minerals (BRMS) weighed most on the index, CNBC Indonesia said. Basic materials closed 2.46% lower. Among LQ45 members, Japfa Comfeed (JPFA) fell 6.91%, BRPT 6.59% and HRTA 5.30%, while AKR Corporindo (AKRA) rose 4.58%, Unilever Indonesia (UNVR) 4.12% and Sumber Alfaria Trijaya (AMRT) 3.72%, Kontan reported.

Oil and the rupiah

January Brent crude futures settled $3.67 higher at $98.29 a barrel on Thursday, November 5, up 3.88% from $94.62 on November 4, according to Yahoo Finance data; IDN Times cited the same move. IDN Times said the rise made investors cautious about emerging markets, and analyst Ibrahim Assuaibi told the outlet that higher oil prices could raise subsidy and energy compensation costs in the state budget, adding to concerns about Indonesia's fiscal position. The rupiah's 0.04% decline was modest compared with the Thai baht (−0.4%) and Malaysian ringgit (−0.27%) as of 15:00 Jakarta time (08:00 UTC), while the Indian rupee gained 0.47%, Kontan reported.

Political & policy watch

• OJK on outflows. Hasan Fawzi, the Financial Services Authority (OJK) commissioner who oversees capital markets, described the outflows as part of a "detoxification" of the market and said price adjustments were a consequence of seeking healthier price formation, Investortrust reported. He said OJK was monitoring flows, liquidity and systemic risk and had stabilisation tools available.
• Growth data. Thursday's third-quarter GDP growth of 5.47% beat the 5.20% consensus, CNBC Indonesia noted on Friday, which listed OJK meeting results and government plans on investment incentives and tax holidays among issues investors were following.
• Fiscal concerns. Ibrahim Assuaibi, quoted by IDN Times, tied rupiah pressure to the government's financing needs and the cost of energy subsidies.
• Global policy. CNBC Indonesia cited a 25-basis-point Bank of England rate rise to 4% and US political developments after the midterm elections among external factors.
• MSCI review. Jakarta Globe reported on November 3 that investors were positioning ahead of MSCI's index review scheduled for November 11-12, 2026. Background is in our explainer on Indonesia's capital flows and the MSCI standalone risk.

What to watch next

Risk checklist for readers

• Close versus intraday: Friday's index was down nearly 2% at midday and up 0.40% at the close. Morning moves can reverse within hours, so check the closing level before drawing conclusions.
• Breadth matters: A gain led by a few large banks can hide broad weakness. On Friday, 381 stocks fell against 192 that rose.
• Overseas spillovers: Large moves on Wall Street, especially in technology and chip stocks, can affect Asian markets the next morning.
• Commodity swings: Oil, coal and metal prices can move several percent in a session and affect miners, energy stocks and the budget outlook.
• Provider differences: Turnover and breadth figures differed between outlets on Friday. The exchange and Bank Indonesia publish the official numbers.
• Currency risk: For foreign investors, returns depend on both share prices and the rupiah, which closed at 18,089 per dollar on Friday.

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