Durian – Iman Rachman, President Director of the Indonesia’s Stock Exchanges (IDX) announced his resignation on Friday, 30 January 2026, following the negative market conditions in the last two days.
“I am as the President Director of the Indonesia’s Stock Excanges and as a form of my responsibility over what was happened in the last two days, I announce my resignation as the President Director of the Indonesia’s Stock Exchanges,” Iman told reporters at the IDX building in Jakarta.
He hoped that his resignation could bring a positive impact to the IDX.
IDX index fell sharply on 28 January and 29 January, forcing the suspensions of the market. On 28 January, IDX market suspended at 13.34.13 JATS up to 14.13.13 after the index down 8 percent.
While on 29 January, the market suspended in the first trading at 09.26.01 JATS up to 09.56.01 JATS due to composite index fell 8 percent.
The opening of the market was weakening since 28 January following announcement from Morgan Stanley Capital International (MSCI) on its conclusion regarding consultation with the IDX on free float assessment of Indonesian securities in which it temporarily freeze the rebalancing of Indonesia’s stocks’ composition and weighting reduction in MSCI emerging markets index for all Indonesian securities on 27 January 2026 evening GMT time or 28 January 2026 in Indonesia.
MSCI also considers a potential reclassification of Indonesia from emerging market to fortier market status, or lowering the market level.
“Hopefully, our condition, it was recovery when we opened (the market) this morning and it will keeps getting better in the following days,” Iman said.***
