Title: IHSG Under Pressure as MSCI Review, Iran Tensions, and Foreign Sell-Off Weigh on Market Sentiment

The Jakarta Composite Index (IHSG) opened lower on Tuesday, April 21, 2026, slipping to 7,524 in early trading, with top decliners including DSSA, BREN, and BBRI. The market continues to be influenced by ongoing concerns over the Iran conflict and its potential impact on regional equity flows. Foreign investors remained net sellers in the local equity market, raising questions about whether domestic liquidity can provide sufficient support to stabilize the index amid sustained outflows. Meanwhile, Wijaya Cahaya Timber (WBSA) reached its upper price limit following the resumption of trading after a suspension, standing out as a notable gainer despite broader market weakness. Analysts note that geopolitical tensions continue to weigh on market sentiment, particularly due to the region’s exposure to oil supply disruptions through the Strait of Hormuz, which affects key Asian economies with deep trade ties to Gulf Cooperation Council countries. These dynamics are being closely monitored by global investors assessing risk exposure in emerging markets.