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February 25, 2025 | 12:16 pm
TEMPO.CO, Jakarta - Indonesia Composite Index (IHSG) continued to weaken in trading on Tuesday, February 25, 2025. As of 10:07 AM WIB (Indonesia Western Time), the index was still below the 20-day moving average (MA20), with the Relative Strength Index (RSI) declining and the Moving Average Convergence Divergence (MACD) indicating a slowing trend.
According to Kiwoom Sekuritas analyst Oktavianus Audi, the IHSG is expected to move within a support range at the 6,640 level and resistance at 6,832 until the market closes today. Audi stated that the IHSG's decline is influenced by various global and domestic sentiments affecting the market.
In the domestic sector, the Indonesian stock market is under pressure from a significant capital outflow. "Yesterday alone, there was an outflow of Rp3.47 trillion, indicating that foreign investors are still shifting their assets to lower-risk and safe-haven instruments," said Audi when contacted on Tuesday, February 25, 2025.
According to him, this phenomenon is related to the launch of the Sovereign Wealth Fund (SWF) Danantara on February 24, 2025. He noted that the launching has raised questions among investors regarding its transparency and governance.
With market conditions still overshadowed by uncertainty, investors are expected to remain cautious in taking positions. "As long as there is no clarity on the direction of global economic policies and the management mechanism of the Danantara SWF, the IHSG will likely remain under pressure," said Audi.
Economic uncertainty amid U.S. President Donald Trump's reciprocal tariff policies contributed to the weakening of the IHSG.
"The market is concerned that this policy could trigger inflation and slow down the global economy," he said. He also noted that several central banks, such as the Bank of Korea (BoK), have cut interest rates and lowered GDP growth targets in response to the impact of this policy.
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