RRI.CO.ID, Jakarta - The government affirms its commitment to maintaining the stability and credibility of the Indonesian capital market thru various strategic measures, including accelerating exchange demutualization and strengthening governance. This step is taken to respond to global market dynamics and strengthen the national economic fundamentals.

Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto, made the commitment in Jakarta, Friday, 30 January 2026, in response to the fluctuations in the Composite Stock Price Index (IHSG) caused by sentiment from Morgan Stanley Capital International (MSCI), as well as the downgrades by UBS Group AG and Goldman Sachs regarding the Indonesian capital market in recent times.

Responding to this situation, the government affirms its commitment to maintaining the stability and credibility of this nation, including the credibility of the capital market, thru several strategic steps. First, the acceleration of the demutualization of the Indonesia Stock Exchange, the government wants to accelerate the demutualization of the exchange," Minister Airlangga conveyed.

He also explained that demutualization is part of a structural transformation to reduce conflicts of interest between exchange management and exchange members, and to prevent unhealthy market strategies. This process is expected to begin this year in accordance with the mandate of the Law on the Development and Strengthening of the Financial Sector (Law P2SK).

In addition to accelerating demutualization, the government also highlighted the important role of the Daya Anagata Nusantara Investment Management Agency (Danantara), in the national capital market ecosystem. Danantara's involvement is considered crucial given the significant contribution of state-owned enterprises to the total market capitalization on the exchange.

Danantara's head, Rosan Perkasa Roeslani, stated that they have a significant interest in promoting a more transparent and open exchange. This is based on the large proportion of state-owned companies in the Indonesian capital market.

"Almost thirty percent of the total market capitalization on the exchange is contributed by our state-owned enterprises. So, we also want to encourage our exchange to become more transparent, more open, and also, in addition to that, to always uphold good governance," Rosan said.

As part of strengthening governance, the Financial Services Authority (OJK) and Bank Indonesia (BI) are also expected to issue regulations to increase the public float from 7.5 percent to 15 percent. This step aims to increase market liquidity and align Indonesian exchange standards with other countries such as Malaysia, Japan, and Thailand.

Airlangga Hartarto added that the government guaranties protection for all investors by maintaining information transparency. Despite pressure from the global market, the government maintains that Indonesia's economic fundamentals remain strong and coordination between fiscal and monetary policies is functioning well.