Flooring Guide by Cinvex JAKARTA — Indonesia’s Finance Minister, Purbaya Yudhi Sadewa, offered a relaxed response to the Jakarta Composite Index (IHSG) dropping approximately 1% following a cabinet reshuffle announcement and the subsequent swearing-in of new ministers at the Presidential Palace on Monday, September 8, 2025.
Purbaya attributed the decline to market participants’ unawareness of his extensive market experience. “Perhaps the market doesn’t know, but I’m a market person,” he stated at the Ministry of Finance office. “I’ve been in the market since 2000, more than 15 years.”
His extensive market knowledge, he asserted, extends to his deputy ministers. He highlighted the experience of Deputy Finance Minister Anggito Abimanyu, Deputy Finance Minister Suahasil Nazara’s deep fiscal expertise and long tenure teaching at the University of Indonesia, and Deputy Finance Minister Thomas Djiwandono’s year-plus in office.
“So, if we want to fix it, improve it, optimize it, I think we have sufficient instruments to collectively improve the IHSG,” he explained.
The IHSG closed significantly lower following President Prabowo’s afternoon announcement of the Merah-Putih Cabinet reshuffle, including the appointment of a new finance minister. RTI Business data shows the IHSG closed down 1.28%, or 100.49 points, to 7,766.84. 451 stocks closed lower, 232 rose, and 121 remained unchanged. The index fluctuated between 7,766.84 and 7,934.99 throughout the day.
Among the large-cap stocks that closed lower were PT Bank Central Asia Tbk. (BBCA), down 3.75% to Rp7,700; PT Bank Mandiri (Persero) Tbk. (BMRI), down 4.06% to Rp4,490; PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI), down 2.50% to Rp3,900; and PT Pantai Indah Kapuk Dua Tbk. (PANI), down 5.76% to Rp14,325.
Conversely, several stocks saw gains, including PT Aneka Tambang Tbk. (ANTM), up 6.49% to Rp3,610; PT Merdeka Copper Gold Tbk. (MDKA), up 0.76% to Rp2,640; PT United Tractors Tbk. (UNTR), up 4.34% to Rp26,450; and PT Indika Energy Tbk. (INDY), up 5.73% to Rp1,660.
Summary
Indonesia’s Jakarta Composite Index (IHSG) experienced a 1.28% drop on September 8, 2025, following a cabinet reshuffle and the appointment of a new finance minister. Finance Minister Purbaya Yudhi Sadewa attributed the decline to market participants’ unfamiliarity with his extensive market experience, claiming over 15 years in the market and highlighting the expertise of his deputy ministers.
The IHSG closed at 7,766.84, with 451 stocks declining and only 232 rising. Significant losses were seen in large-cap banking stocks like BBCA, BMRI, and BBRI, while some mining and energy stocks, such as ANTM and INDY, showed gains. The Minister expressed confidence in his team’s ability to address the market downturn using available tools.