Indonesia's Stock Exchange (IHSG) Plunges Following Sri Mulyani's Dismissal as Finance Minister (Monday, September 8, 2025)
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The Jakarta Composite Index (JCI) closed down 1.28% to 7,766.85 at the close of trading on Monday (September 8, 2025).
The IHSG's movement changed drastically, as it strengthened by 0.58% at the close of the first trading session.
This change coincided with President Prabowo Subianto's cabinet reshuffle this afternoon. One of the ministers reshuffled was Finance Minister Sri Mulyani, who was replaced by Purbaya Yudhi Sadewa.
The Minister of State Secretary (Mensesneg), Prasetyo Hadi, said the cabinet reshuffle decision was a follow-up to the recent evaluation of cabinet personnel.
"This afternoon, the president decided to make changes to the composition of the Red and White Cabinet in several ministerial positions," said Prasetyo, as quoted by Katadata.co.id.
Unlike the IHSG, Asian markets were generally up today. The Nikkei 225 Index rose 1.45% to 43,643.81; the Hang Seng Index strengthened by 0.85% to 25,633.91; the SSE Composite Index rose 0.38% to 3,826.84; and the Straits Times Index STI rose 0.03% to 4,308.52.
Based on the IDX-IC Sectoral Index, 8 sectors closed down today. The consumer cylicals sector fell the most, by 2.48%. This was followed by the financials sector, down 2.29%, and the infrastructures sector, down 2.07%.
Meanwhile, 3 sectors closed up. The basic materials sector led with a 0.77% increase, followed by the industrials sector, up 0.15%, and the consumer non-cylicals sector, up 0.07%.
According to RTI Business data, 232 stocks closed up today, 451 stocks fell, and 121 stocks were stagnant.
Today's domestic stock trading frequency reached 2.21 million transactions. A total of 35.48 billion shares changed hands, with a total transaction value of Rp 20.17 trillion.
Today's top gainers were LION, TALF, and FITT, each up 25%. Meanwhile, TMPO was the top loser after plunging 14.91%, followed by WOWS and COCO, each down 14.63%.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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