IDX Changes Share ARB to 7%, What Is the Impact for Investors?

At 08:58 JATS, Friday (16/10/2026), the trading screen of the Indonesia Stock Exchange suddenly froze. IHSG had just plunged 8 percent and a trading halt was imposed. Three days later, IDX responded with a share ARB of 7 percent, the latest share ARB limit replacing the 15 percent figure. 

This 2026 IDX ARB rule takes effect on Monday (19/10/2026) and targets one thing: preventing share prices from free-falling in a single day.

Key Takeaways

• The ARB limit drops from 15 percent to 7 percent for shares above Rp10, effective October 19 to December 31, 2026.
• The ARA limit is unchanged (35, 25, and 20 percent), so the scheme is now asymmetric.
• IDX will evaluate this policy in line with market developments.

Details of IDX's 2026 ARB Rule per Price Group

This policy is set out in IDX Board of Directors Decree Number Kep-00157/BEI/10-2026 concerning Regulation Number II-A on Trading of Equity Securities. 

According to EmitenNews, the regulation replaces Decree Number Kep-00136/BEI/09-2026 and has received OJK support. It is effective from October 19 to December 31, 2026, with evaluation according to market conditions.

Details:

• Rp1–Rp10: ARA and ARB remain Rp1.
• Rp11–Rp200: ARA 35 percent, ARB 7 percent (previously 15 percent).
• Above Rp200–Rp5,000: ARA 25 percent, ARB 7 percent (previously 15 percent).
• Above Rp5,000: ARA 20 percent, ARB 7 percent (previously 15 percent).

Thus, only the downside is tightened. For shares at Rp11–Rp200, for example, the price may rise by up to 35 percent, but may only fall by 7 percent in a day. This lopsided scheme is what is called asymmetric ARB.

IDX Corporate Secretary Elsierra Putri Yosita said this adjustment gives investors an opportunity to evaluate and digest the available information, as quoted by InfoBankNews.

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IHSG's Heavy Week Behind IDX's Decision

This decision came after an exhausting week. Based on IDX records quoted by Kompas.com, the IHSG fell 14.91 percent over the past week, while market capitalization shrank 14.43 percent. After the trading halt on Friday, the index closed at 5,185.10, according to Bsinews.

That pressure was related to MSCI's threat to change Indonesia's stock market classification. Sindonews reported that this IDX step was aimed at containing volatility after the reclassification threat. At the opening on Monday (19/10/2026), the IHSG briefly fell 4.31 percent to 4,961.87, as reported by Beritasatu.

Read Also: BIS Reveals New Potential of XRP Ledger for Digital Financial Systems

Impact of ARB 7 Percent for Investors

Katadata assessed that with a 7 percent downside limit for all shares above Rp10, the IHSG would practically struggle to touch the trading halt level of 8 percent again. Nevertheless, IDX itself did not mention trading halt in its announcement. The following impacts deserve attention.

Daily emergency brake. A single share's price decline in a day is capped at 7 percent, so selling panic has a clear floor.

Selling pressure can pile up. This rule limits the size of the daily decline, not the cause of the selling pressure. Shares locked at ARB may leave a long sell queue for the next trading session, and sellers may find it difficult to exit because buyers thin out.

More room to think. A gentler decline gives investors time to weigh news, including news about MSCI, before deciding to sell.

Read Also: Popular Tokenized Stocks 2026: Technology Stocks Become Investor Favorites

A similar step has been taken before. In March 2020, IDX first implemented an asymmetric ARB of 10 percent, then lowered it to 7 percent starting March 13, 2020, according to Bisnis.com. After the pandemic subsided, ARB was normalized gradually with a 15 percent limit from June 5, 2023.

For investors, this limit is better read as a pause, not a price guarantee. The quality of issuer fundamentals and the ability to withstand risk remain the main anchors, especially since this policy will be evaluated again toward the end of the year.

Read Also: 10+ Best AI Coins 2026: Here Is the List of Artificial Intelligence-Themed Cryptos! 

Conclusion

IDX cut ARB to 7 percent for all shares above Rp10 from October 19 to December 31, 2026, while leaving ARA unchanged. This policy dampens daily declines but does not eliminate the causes of market pressure. Investors need to monitor IDX's evaluation results and developments in the MSCI issue.

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FAQ

1. What is ARB in shares?
ARB or Downward Auto Rejection is the maximum price decline limit for a share in one trading day. Sell orders below that limit are automatically rejected by the system.

2. Does the ARA limit change too?
No. ARA remains 35 percent for shares at Rp11–Rp200, 25 percent for above Rp200–Rp5,000, and 20 percent for above Rp5,000. Because ARB falls while ARA remains unchanged, the scheme becomes asymmetric.

3. Until when does the 7 percent ARB apply?
Until December 31, 2026. IDX stated that it will evaluate it according to market developments, so the effective period may change.

4. Are Rp1–Rp10 shares also subject to the 7 percent ARB?
No. This price group still uses the Rp1 limit for both ARA and ARB.

5. When did IDX last use a 7 percent ARB?
In March 2020. At that time, IDX lowered the ARB limit from 10 percent to 7 percent starting March 13, 2020, amid pandemic turmoil.