Heaptalk, Jakarta — Finance Minister Sri Mulyani Indrawati stated that global and national factors influenced the 7% decline in the Composite Stock Price Index (IHSG) during Tuesday’s trading session (18/3).
“The global and national factors in question are sentiments related to State-Owned Enterprises (SOE),” said Sri Mulyani.
In this regard, Sri Mulyani assured that SOE will continue to be maintained appropriately. However, the Finance Minister emphasized the need for BUMN and the Investment Management Agency (BPI) Danantara — which will later manage SOE — to ensure professional and transparent management, as consistently emphasized by President Prabowo Subianto.
Additionally, Minister Sri urged SOE management to take responsibility for providing clear explanations to the public. “This is to ensure public trust in these companies.”
“The decline in SOE stocks is reflected in the weakening of the SOE 20 index, which fell by 2.7% to 312.02 points at today’s trading. This aligns with the IHSG, which closed lower, losing 248.55 points (3.84%) to 6,223.38 on Tuesday (18/3) after a sharp decline that led to a temporary trading halt. Throughout the day, the IHSG continued to weaken, moving from a high of 6,465.22 to a low of 6,011.84, a drop of 7.1% point-to-point,” explained Sri Mulyani.
Trading transactions on Tuesday reached Rp19.29 trillion, dominated by sell-offs involving 29.5 billion shares traded with a frequency of 1.54 million times. “Around 554 stocks weakened, while 118 stocks strengthened. The remaining 139 stocks were stagnant,” said Sri.
Technology, raw material, and energy stocks weighed heavily on the IHSG, plunging into the red zone with declines of 9.76%, 5.99%, and 3.42%, respectively. Property stocks also weakened by 3.33%, while infrastructure stocks experienced a 3.03% decline.
