The Indonesian stock market suffered a sharp crash on 29 January 2026, marking one of the steepest sell-offs in recent years as the Jakarta Composite Index (IHSG) plunged amid mounting investor concerns. The sell-off was triggered by warnings from global index provider MSCI about transparency and “investability issues” in the Indonesian market (due to low free-float requirements and lack of transparancy), sparking heavy capital outflows and widespread panic selling among both foreign and domestic investors.