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March 18, 2025 | 07:30 pm
TEMPO.CO, Jakarta - The IDX Composite (IHSG) plunged nearly 7 percent during trading on Tuesday, March 18, 2025, sparking market speculation, including rumors of Finance Minister Sri Mulyani’s possible resignation. Addressing these concerns, House of Representatives’ (DPR) Deputy Speaker Sufmi Dasco Ahmad dismissed the rumors as baseless and emphasized that Indonesia’s fiscal condition remains robust.
“As for foreign investors’ perceptions, I cannot comment further. However, I can assure you the rumors about Minister Sri Mulyani are false. Let me be clear—she will not step down, and our fiscal condition remains solid,” Dasco stated after visiting the Indonesia Stock Exchange (IDX) building on Tuesday afternoon to assess the market situation.
Meanwhile, DPR’s Commission XI Chairman Misbakhun viewed the IHSG downturn as a natural part of market dynamics. He noted that similar situations had occurred in the past, and the market had always found its recovery point.
He stressed that Indonesia’s fiscal policy remains on a strong and sustainable path and this market decline is part of normal fluctuations. “We’ve been through this before, and the market always rebounds. There’s no need for excessive concern,” Misbakhun reassured.
He added that, according to IDX President Director Iman Rachman, the fundamentals of listed companies remain solid. He cited the strong performance of state-owned banks under Himbara, particularly BRI, which has consistently delivered substantial dividends to shareholders.
"Investors should see this as a positive indicator. The fundamentals of these companies have not changed—this is purely a case of market sentiment influencing price movements. I urge investors to stay rational in responding to this situation," he added.
Earlier in trading, the IHSG experienced heavy selling pressure, briefly hitting the trading halt threshold after dropping more than 5 percent. In contrast, stock markets in other Southeast Asian countries saw gains, raising questions about investor sentiment toward Indonesia’s domestic market.
The government and capital market regulators are currently considering measures to curb volatility and restore investor confidence. Tomorrow on Wednesday, March 19, the Financial Services Authority (OJK) is scheduled to announce new policies to address market fluctuations.
Editor’s Choice: Lawmakers Visit IDX After IHSG Trading Halt: 'Restoring Market Confidence'
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