Pengaruh Arus Modal Asing terhadap Pergerakan IHSG dan Stabilitas Ekonomi Nasional

Abstract

^{Foreign capital flows play a very important role in the movement of the Indonesia Composite Index (IHSG) and Indonesia's economic stability. Using a qualitative descriptive method based on literature studies and secondary data (from IDX and Bank Indonesia), this study examines how the dynamics of foreign funds affect the capital market, the rupiah exchange rate, and even inflation. The analysis shows that the inflow of foreign capital successfully boosts the IHSG and market confidence. However, capital outflow or selling pressure triggers index corrections and weakens the rupiah, which can raise the prices of imported goods and spark inflation. The phenomenon throughout 2026 has reinforced this pattern, where massive foreign fund withdrawals directly impact the weakening of the IHSG and rupiah. So in this case, Indonesia needs to take a more adaptive strategy to maintain financial market stability while also strengthening the domestic investor base so it’s not too dependent on foreign capital.}