IDX Halts Trading After Indonesian Stock Market Drops 5.02%
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JAKARTA, investortrust.id – The Indonesia Stock Exchange temporarily halted trading activities at 11:20 a.m. local time on Tuesday, Mar 18, 2025, following a sharp 5.02% decline in the Jakarta Composite Index, reflecting heightened market anxiety amid significant drops in major stocks, particularly those linked to businessman Prajogo Pangestu.
The Indonesia Stock Exchange (IDX) implemented a trading halt—an emergency measure that temporarily suspends trading to stabilize markets—after the Jakarta Composite Index (IHSG) plunged 325 points or 5.02% to 6,146 during Tuesday's morning trading session.
This dramatic fall was in stark contrast to global equity markets, which broadly rallied. The decline was primarily driven by steep sell-offs affecting shares affiliated with Indonesian tycoon Prajogo Pangestu, with multiple stocks hitting the lower auto-rejection limit.
Among the hardest-hit stocks were PT Chandra Asri Petrochemical Tbk (TPIA), which fell 19.92% to Rp 5,325; PT Barito Renewables Energy Tbk (BREN), declining 15.46% to Rp 4,840; and PT Petrindo Kreasi Jaya Tbk (CUAN), tumbling 17.82% to Rp 5,650.
Shares of other companies linked to Prajogo also recorded sharp losses. PT Barito Pacific Tbk (BRPT) dropped 18.06% to Rp 635, while PT Petrosea Tbk (PTRO) declined 16.85% to Rp 2,270.
Additionally, continued pressure on the market came from PT DCI Indonesia Tbk (DCII), whose stock hit the lower auto-rejection limit for the third consecutive trading session, plunging 20% to Rp 115,800.
Other large-cap firms similarly affected included PT Dian Swastatika Sentosa Tbk (DSSA), down 5.25% to Rp 40,175; PT Pantai Indah Kapuk Dua Tbk (PANI), losing 19% to Rp 8,200; and PT Amman Mineral Internasional Tbk (AMMN), declining 5.12% to Rp 6,025.
The halt in trading highlighted investor concerns about domestic economic resilience amid a divergent trend between Indonesian equities and global market movements, raising broader questions about market stability in Southeast Asia’s largest economy.