IHSG Faces Further Downside Risk as Analysts Highlight ASII, HRUM, ISAT, and PSAB Opportunities

KORANPAGARALAMPOS.COM - Indonesia’s benchmark stock index, the Composite Stock Price Index or IHSG, is projected to remain under pressure in Monday’s trading session, May 25, 2026.

Market analysts warn that the index could continue its downward movement toward the psychological support level of 5,899 amid persistent foreign selling and weakening investor sentiment.

Despite a rebound at the end of last week, analysts believe the Indonesian stock market is still navigating a fragile correction phase.

According to research from MNC Sekuritas, the IHSG closed 1.10 percent higher at 6,162.04 on Friday, May 22, 2026, supported by the emergence of buying volume.

However, the broader weekly trend remained negative as the index plunged 8.35 percent during the May 18–22 trading period.

Technical analysts noted that the current market structure still reflects a bearish wave pattern, suggesting that selling pressure may continue in the short term.

The next downside target is expected to test the 5,899 support area, while resistance levels are projected between 6,318 and 6,459.

The correction in Indonesia’s stock market has been significant, with market capitalization shrinking sharply over the past week.

Data from the Indonesia Stock Exchange showed that the total market value dropped by around Rp1,190 trillion, falling from Rp11,825 trillion to Rp10,635 trillion.

This decline reflects growing uncertainty among investors amid heavy foreign outflows and volatile global market conditions.

Interestingly, trading activity increased during the correction period. Average daily transaction value rose by 15.68 percent to Rp21.77 trillion, while daily trading volume climbed to 36.67 billion shares.

However, the average trading frequency decreased by 6.5 percent, indicating that large-value transactions dominated market activity during the downturn.

Foreign investors also remained aggressive sellers in the domestic equity market.

On Friday alone, net foreign sell reached Rp309.52 billion. Year-to-date in 2026, foreign investors have recorded a cumulative net sell of Rp41.63 trillion, putting additional pressure on local equities.