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View all search resultsStocks plunge as IDX lowers minimum price cap
Several other stocks were affected by the price floor change and hit the lower auto-rejection limit, including tech giant PT GoTo Gojek Tokopedia, property developer PT Lippo Karawaci and PT Repower Asia Indonesia, as well as rice producer PT Buyung Poetra Sembada.
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An electronic display board inside the main hall of the Indonesia Stock Exchange (IDX) in South Jakarta shows an overall downward movement across most stocks during the lunch break on Jan. 29, 2026, when the IDX Composite index fell 6.3 percent after global investment firm MSCI raised concerns about free float and trading transparency. (TJP/Deni Ghifari)
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ndonesian low-priced stocks plunged to the lower auto-rejection limit (ARB) on Monday as the Indonesia Stock Exchange (IDX) implemented the removal of the stock price floor from Rp 50 (0.28 US cents) to just Rp 1, a move analysts say could trigger volatility in certain equities but would help improve market quality over the long term.
Shares of publicly listed ride-hailing and technology company PT GoTo Gojek Tokopedia plummeted 14 percent to Rp 43 at the open on Monday, after being stuck at Rp 50 since May.
Several other stocks were also affected by the price floor change and hit the ARB limits at Rp 43, including property developer PT Lippo Karawaci and PT Repower Asia Indonesia, as well as rice producer PT Buyung Poetra Sembada.
IDX president director Jeffrey Hendrik said that the market had "reacted positively" to the rollout, adding that it would take time for stocks to discover their "fair value", as prices could undergo multiple auto-rejection processes.
Jeffrey stressed that low-priced stocks accounted for a relatively small weighting in the IDX Composite, with only 69 of the 963 stocks trading at below Rp 50 on Monday.
IDX unveiled the plan in August, saying the move was aimed at “providing better liquidity access and price discovery”.
Read also: IDX begins trial to lower stock price floor to Rp 1
