IHSG: A New Face, A New Shock. What’s the Play?

Key Summary:
- Expect market to remain volatile in the near-term
- Structural issues preventing pro-growth policies
- Cautious on IHSG given uncertainty & downside risks
The Indonesian government surprised market participants by abruptly reshuffling its cabinet members across five Ministries (and adding one new Ministry) this week.
The five changes and one addition are Coordinating Ministry of Politics & Security, Ministry of Finance, Ministry of Migrant Workers Protection, Ministry of Cooperatives, Ministry of Youth & Sport, and Ministry of Hajj & Umrah.