Jakarta. Indonesia’s stock exchange recorded 69 stocks trading below Rp 50 on Monday, the first day of a new rule removing the minimum share price, as the bourse reported a smooth rollout despite the potential for short-term volatility.

By around 2:30 p.m. Jakarta time, all 69 stocks had traded below the threshold in the regular market. The change allows shares previously restricted by the Rp 50 minimum price to move more freely in response to market demand and supply.

Indonesia Stock Exchange (IDX) President Director Jeffrey Hendrik said the policy had been implemented smoothly from the pre-opening session through regular trading.

“We monitored the market this morning, and the first implementation of the removal of the Rp 50 minimum price went well at the opening. The entire process, from pre-opening to the market opening and through the trading session so far, has proceeded smoothly,” Jeffrey told reporters on Monday.

Jeffrey said the newly permitted price movements would allow stocks that had been stuck at Rp 50 for years, often with little or no trading activity, to find their fair value.

“Some stocks have been at Rp 50 for years without any transactions. This means market participants and investors may have considered their fair value to be below Rp 50, and they are now searching for that fair value,” he said.

The price discovery process could trigger short-term volatility, he added, as stocks remain subject to the exchange’s auto-rejection mechanism, which limits price movements within a trading session.

“Of course, this takes time because of the auto-rejection mechanism, until the stocks eventually find their fair value,” he said.

Jeffrey also rejected concerns that allowing shares to trade below Rp 50 would automatically put pressure on the Jakarta Composite Index (JCI), saying the stocks involved accounted for a relatively small share of the benchmark.

“The weight of stocks that have been trading at Rp 50 for a long time is not significant in the JCI. So, price declines below Rp 50 are not necessarily the sole factor putting pressure on the index,” he said.

The IDX had identified around 20 stocks that had remained at Rp 50 over roughly the past year. The number rose to 69 after including stocks on the exchange’s Special Monitoring Board that were also eligible to trade below the threshold on Monday.

Jeffrey did not provide an exact figure for their combined weighting in the JCI but reiterated that their contribution was relatively small.

Separately, the IDX will announce five stocks eligible for short selling, with transactions scheduled to begin on Oct. 1, 2026. Jeffrey did not disclose their names or sectors ahead of the official announcement.

Two exchange members currently facilitate short-selling transactions: Semesta Indovest Sekuritas and Ajaib Sekuritas.

Investors seeking to short-sell shares must meet the exchange’s requirements, including opening a dedicated short-selling account with a participating securities firm. They must also have maintained a regular trading account for at least six months and meet the minimum fund requirement of Rp 50 million.

Jeffrey said short selling could help investors implement their investment strategies but warned that the practice carried risks.

“Short selling is one of the features investors can use to support their investment strategies, but it carries risks,” he said.

Given its higher risk compared with regular stock trading, the IDX expects the facility to be used by investors who understand its mechanics and associated risks.

Jeffrey added that several other stocks were still in the pipeline to become eligible for short selling, with the exchange set to announce the additional names at a later date.

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