Trading on the Indonesia Stock Exchange (IDX) was halted on the morning of 16 October 2026. At the open, the Jakarta Composite Index (IHSG) fell 469.86 points, or 8.01%, to 5,393.92 — enough to trip the exchange’s automatic trading halt, which pauses the whole market for 30 minutes once the index drops more than 8%.
The sell-off followed news that MSCI has opened a consultation on reclassifying Indonesia from an “emerging” market to a “standalone” market, citing continuing concerns about investment accessibility and market governance. A downgrade would push Indonesia out of the main emerging-market indices that passive funds track, so the market priced in the risk fast — blue chips like BBCA and GOTO were among the hardest hit.
For reference, IDX’s circuit breakers escalate: a fall of more than 8% halts trading for 30 minutes; more than 15% halts it for another 30 minutes; and more than 20% can suspend trading for the rest of the session, or longer, with OJK approval.
source: idx.co.id — siaran pers BEI
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