Indonesia’s equity market came under severe pressure in October 2026. The ICI closed at 5,057.05, down 16.70% month-on-month and 41.52% year-to-date (YTD). The decline was triggered by MSCI’s consultation announcement proposing to reclassify Indonesia as a Standalone Market, compounded by external pressures and deepening foreign fund outflows. Bank Indonesia held the BI-Rate at 5.75% to maintain rupiah stability, while market authorities pursued stabilization measures and accelerated capital market reforms.
