RRI.CO.ID, Jakarta - The Indonesia Stock Exchange (IDX) entered a recovery phase on Thursday morning, February 12, 2026, with the Jakarta Composite Index (JCI) climbing as authorities moved to restore international investor confidence.
Opening at 8,317.24, a gain of 26.27 points or 0.32 percent, the market’s upward trajectory reflected optimism over new transparency measures aimed at addressing concerns from global index providers and rating agencies. The LQ45 index also rose 1.28 points or 0.15 percent to 843.23.
The rebound followed recent volatility triggered by Morgan Stanley Capital International’s (MSCI) decision to freeze index rebalancing for Indonesian equities. To resolve the issue, IDX officials held high-level talks with MSCI on Wednesday, committing to reforms that include publishing lists of shareholder concentrations and providing more detailed investor data to strengthen market integrity.
“Market sentiment today is influenced by efforts to restore global investor confidence in Indonesia’s capital market amid scrutiny over transparency and adjustments in the views of rating agencies,” the Lotus Andalan Sekuritas Research Team stated in its Thursday analysis, as quoted by Antara.
Authorities outlined three pillars of reform: mandatory disclosure of shareholders with stakes above 1 percent, enhanced reporting of granular investor data, and revisions to listing regulations. A key change under discussion is raising the minimum public free float requirement from 7.5 percent to 15 percent, intended to deepen liquidity and reduce the risk of price manipulation.
The government is also working to address concerns over the nation’s credit profile. Following Moody’s downgrade of Indonesia’s debt outlook, economic ministers are preparing a forum to clarify the country’s fiscal fundamentals to global rating agencies.
On the diplomatic front, President Prabowo Subianto’s upcoming state visit to the United States to sign a reciprocal trade agreement is seen by traders as a potential catalyst for medium-term capital inflows.
Globally, market signals remain mixed. A weakening U.S. Dollar Index initially supported emerging markets, but strong labor data from early 2026 tempered expectations of an immediate Federal Reserve rate cut.
Wall Street closed with varied results on Wednesday, with the Dow Jones Industrial Average down 0.13 percent, the S&P 500 slipping 0.01 percent, and the Nasdaq Composite gaining 0.29 percent. European bourses also ended mixed, while regional Asian markets opened Thursday with mixed movements. The Straits Times Index rose 0.48 percent. ***
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