February 5, 2026 | 08:07 pm
TEMPO.CO, Jakarta - The Composite Stock Price Index (IHSG) on the Indonesia Stock Exchange (IDX) closed lower on Thursday, dragged down by a correction in global markets. Technology stocks faced significant pressure despite the positive sentiment generated by Indonesia's latest Gross Domestic Product (GDP) data.
The IHSG ended the day down 42.84 points, or 0.53 percent, at 8,103.88. Similarly, the LQ45 index of 45 blue-chip stocks fell by 3.43 points, or 0.41 percent, to 829.35.
"Economic growth above 5 percent is certainly a positive for the market, but current sentiment is being dominated by the global correction," said financial economist and capital market practitioner Hans Kwee in Jakarta on Thursday, February 6, 2026.
Hans noted that domestic sentiment regarding Morgan Stanley Capital International’s (MSCI) stance on the Indonesian capital market has normalized and is no longer contributing negative pressure.
He explained that the IHSG’s decline was affected by the weaknesses in Asian and global stock markets. Investors are shifting their strategies, leading to specific pressure on the technology sector. "There is a global rotation and pressure on technology stocks, and so our market is affected," Hans added.
The Central Statistics Agency (BPS) reported that Indonesia's GDP grew by 5.39 percent year-on-year (yoy) in the fourth quarter of 2025. This figure exceeded the expected 5.01 percent and marked an increase from the 5.04 percent growth recorded in the third quarter of 2025.
Throughout 2025, the Indonesian economy grew by 5.11 percent (yoy), slightly missing the government's target of 5.2 percent.
Stock markets across Asia and the globe have trended downward as investors sell off technology shares. Concerns are mounting over high valuations, the scale of artificial intelligence (AI) spending, and potential disruptions to traditional software business models.
After an initial higher opening, the IHSG slipped into negative territory and remained there through the end of the first trading session. The index stayed in the red zone throughout the second session until the close of trade.
According to the IDX-IC Sectoral Index, only two sectors posted gains: primary consumer goods, which rose by 1.11 percent, and the financial sector, which edged up by 0.05 percent.
In contrast, nine sectors declined, led by the industrial sector with a 1.74 percent drop. The infrastructure and energy sectors followed, falling by 1.25 percent and 1.02 percent, respectively.
The top gainers for the day were CTTH, NZIA, KOCI, PPRE, and FITT, while the largest decliners included MINA, MBTO, PADI, LPAD, and TRUE.
Trading volume reached 35.99 billion shares across 2,549,194 transactions, with a total value of Rp20.06 trillion. Market breadth showed 299 stocks advancing, 349 declining, and 172 remaining unchanged.
In regional markets, the Nikkei Index fell 475.39 points (0.88 percent) to 53,818.00, and the Shanghai Index dropped 26.28 points (0.64 percent) to 4,075.91. Conversely, the Hang Seng rose 37.91 points (0.14 percent) to 26,885.24, and the Straits Times Index gained 10.37 points (0.21 percent) to 4,975.87.
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