Indonesian Stock Market Declines Ahead of Christmas Holiday

Market Performance Overview

The Indonesian Composite Stock Price Index (IHSG) closed lower by 0.55% to 8,537.91 on Christmas Eve, December 24, 2025 ¹

Sectoral Performance

The overall market decline was accompanied by varied sectoral performance. Only three sectoral indices managed to stay in positive territory:

• IDX Property & Real Estate: +0.38%
• IDX Primary Consumer Goods: +0.20%
• IDX Infrastructure: +0.16% ³
  Source 3

  https://investasi.kontan.co.id/news/ihsg-ditutup-melemah-055-ke-level-853791-pada-perdagangan-rabu-2412

Trading Activity

The trading session saw significant activity with:

• Total trading volume: 34.03 billion shares
• Total transaction value: Rp 22.20 trillion
• Number of transactions: 2,524,857 times ²
  Source 2

  https://finance.detik.com/bursa-dan-valas/d-8275960/ihsg-merosot-sambut-libur-natal

Foreign Investor Activity

Foreign investors recorded a net buy of Rp 2.08 trillion across all markets, with specific transactions including:

• Net buy: Rp 2.32 trillion in negotiated and cash markets
• Net sell: Rp 238.83 billion in regular market
• Top net buy stocks: CASA (Rp 1.3 trillion), IMPC (Rp 1.3 trillion), ANTM (Rp 245.7 billion)
• Top net sell stocks: BBCA (Rp 203.7 billion), BUMI (Rp 182.1 billion), BBRI (Rp 143.7 billion) ¹
  Source 1

  https://pusatdata.kontan.co.id/news/ihsg-merosot-055-jelang-natal-asing-catat-net-buy-rp-208-triliun

Market Outlook

Analysts from MNC Sekuritas noted that the IHSG is currently in a corrective phase and may continue its correction to test the 8,464-8,560 level. The worst-case scenario suggests a deeper correction to the 8,000 level ⁴