The Jakarta Composite Index Plummeted 7%, the Worst in Asia (January 28, 2026)

The Jakarta Composite Stock Price Index (IHSG) plummeted 7.34% to a level of 8,321 in the first trading session today, Wednesday (28/1/2026).

The drop in the index occurred after Morgan Stanley Capital International (MSCI) announced a temporary freeze on the calculation of a number of indices involving Indonesian stocks.

MSCI carried out this freeze in response to global investors' concerns about the transparency of stock ownership data and the feasibility of investing in the Indonesian securities market.

"To address some of these concerns, more detailed and reliable information on the structure of stock ownership, including the possibility of monitoring high concentrations of stock ownership, is needed to support a robust assessment of free-floating shares and the feasibility of investing in all Indonesian securities," said MSCI in its official announcement, reported by Katadata.co.id, Wednesday (28/1/2026).

Meanwhile, the IHSG became the stock exchange index that plummeted the most severely in the Asian region.

According to data from Yahoo Finance, as of 1:10 PM today, the Singapore Stock Exchange (STI) index only fell by 0.41%, and Malaysia (KLSE) fell by 0.7%.

On the other hand, the stock exchange indices of Hong Kong (HSI), South Korea (KOSPI), China (SSEC), and Japan (Nikkei) actually strengthened, as seen in the chart.