The Composite Stock Price Index (IHSG) opened down 188.20 points or 2.32 percent at 7,915.66 on Friday (February 6, 2026), weighed by weakness in Asian and global markets and Moody's Ratings' downgrade of Indonesia's outlook. Despite Indonesia's GDP growing 5.39 percent in Q4 2025, negative sentiment dominated. Analysts predict potential testing of support at 8,000.
At the market open on Friday (February 6, 2026), the Composite Stock Price Index (IHSG) of the Indonesia Stock Exchange (BEI) fell 188.20 points or 2.32 percent to 7,915.66, following the downward trend in Asian and global markets. The LQ45 index also dropped 16.33 points or 1.97 percent to 813.02. "IHSG is estimated to potentially test the support level at 8,000," said Head of Research at Phintraco Sekuritas Ratna Lim in her analysis in Jakarta.
The decline was triggered by weakness in Asian stock markets, where South Korea's Kospi index plunged up to 5 percent due to falls in tech stocks like Samsung Electronics (-3.39 percent) and SK Hynix (-3.68 percent). Japan's Nikkei 225 eroded 0.57 percent, while Australia's S&P/ASX 200 weakened 1.83 percent and Hong Kong's Hang Seng futures fell to 26,510. In Europe, on Thursday (February 5, 2026), Euro Stoxx 50 fell 0.66 percent, FTSE 100 -0.99 percent, DAX -0.46 percent, and CAC -0.29 percent. U.S. markets also uniformly weakened, with S&P 500 -1.23 percent to 6,798.11, Nasdaq -1.38 percent to 24,584.69, and Dow Jones -1.20 percent to 48,908.30.
Domestically, Moody's Ratings downgraded Indonesia's outlook to negative from stable on Thursday (February 5, 2026), though the rating remains Baa2. The main reason is reduced policy predictability risking weakened governance. "This could become negative sentiment for Friday's trading," Ratna added. In contrast, the Central Statistics Agency (BPS) reported Indonesia's GDP grew 5.39 percent year-on-year (yoy) in Q4 2025, exceeding the 5.01 percent expectation and up from 5.04 percent in Q3. For the full year 2025, growth reached 5.11 percent yoy, below the 5.2 percent target. "This is also the strongest annual growth since Q3 2022, supported by private sector growth and rising investment," Ratna stated.
Market participants await the release of January 2026 foreign exchange reserves and Q4 2025 property price index. Head of Retail Research at PT BNI Sekuritas Fanny Suherman predicts the IHSG could weaken further, with support at 7,900-8,030.
