RRI.CO.ID, Jakarta –  In recent days, Indonesia has experienced sharp fluctuations in the Indonesia Stock Exchange Composite (IHSG), which briefly triggered a trading halt. In response, the Financial Services Authority (OJK), Self-Regulatory Organizations (SROs), and Danantara took proactive steps by holding intensive meetings with analysts from the global index provider, Morgan Stanley Capital International (MSCI).

This significant development was shared by the Acting Chairperson and Deputy Chairman of the OJK Board of Commissioners, Friderica Widyasari Dewi, during a press conference at the Indonesia Stock Exchange Building in Jakarta on Monday, 2 February 2026.  She underscored that the current decline in the IHSG is not an isolated event but is consistent with a broader weakening trend in regional and global markets.

“Korea's decline is even deeper, at 5.4%. Then, in Hong Kong, India, Singapore, and China, regional markets are also weakening, and gold is also weakening today. So, we are looking at this from a broader and more global perspective,” Widyasari said.

Despite the domestic market pressure, she noted a positive shift that foreign investors have begun recording net buys, ending a multi-day streak of net selling. She added, “After 4 days of foreign ‘net sell’, today, foreign investors recorded a ‘net buy’ of 654.9 billion rupiah. So, this is the good news that foreign investors are buying today, after 4 days of ‘net sell’ yesterday.”

In line with optimism regarding the return of foreign capital flows, Acting Chief Executive of Capital Market, Derivatives, and Carbon Exchange Supervision, Hasan Fawzi, detailed the discussions with MSCI. He revealed that concrete proposals were submitted to MSCI and received favourably.

“Just as a reminder, MSCI's concerns are very much in line with several of our action plans that our Chairwoman, Kiki, announced yesterday, out of a total of 8 action plans. Specifically, these relate to the transparency cluster, which concerns the disclosure of ultimate beneficial ownership, as well as liquidity to encourage an increase in free float as a new policy in our capital market,” he stated.

To address MSCI’s concerns, the OJK submitted a proposal covering three main pillars. First, the expansion of share ownership disclosure, which is now mandatory for shareholders above 1% (previously only above 5%). Second, increasing the detail of investor classification from 9 types to 27 sub-types to improve the credibility of beneficial ownership disclosure. Third, the OJK plans to gradually increase the free float (public shares) standard from a minimum of 7.5% to 15%.

In addition, Widyasari urged investors to remain calm and avoid panic despite the recent trading halt, citing Indonesia’s solid economic fundamentals. While, Fawzi added that technical coordination will continue, and the government will provide regular updates until a final agreement is reached with the global index provider.