IHSG entered its 4th straight day of correction, closing down 2.06% to 6,021.44 yesterday, after an intraday plunge to a low of 6,015.11. The main trigger was BEI's new rule scrapping the minimum stock price floor from Rp50 to Rp1 (effective Sept 28), which sent roughly 26 previously floor-priced stocks crashing 8–14% in a single session. BEI Director Jeffrey Hendrik pushed back on the idea that this was the main driver of the index weakness, arguing those stocks' weighting in IHSG is too small — but the volatility it triggered was still felt across the market.

A bigger structural shift is coming: starting October 1st, short selling officially goes live on the first five eligible stocks — ASII, BBCA, BRPT, BUMI, and INDF — after two Exchange Members met the requirements to offer the service. BEI estimates this mechanism could boost stock market liquidity by up to 17%. On the fiscal side, the DPR also passed the 2027 State Budget (APBN) into law, with state spending set at Rp4,106 trillion — providing some medium-term fiscal clarity amid the current market volatility.

The catch remains the rupiah — it broke back above Rp18,000/USD yesterday, alongside a Rp1.13tn foreign net sell at the start of the week. The combination of rupiah pressure, the market still digesting BEI's new rule, and short selling just getting underway leaves IHSG's direction in early October looking volatility-prone, especially if the rupiah keeps weakening without an additional policy response from BI.