The technology sector index on the Indonesia Stock Exchange (IDXTechno) recorded positive movement at the close of trading on Monday (8/7/2026) with a 0.92% gain to the level of 6,511. IDX data showed that this rise was driven by price appreciation in 17 stocks, while 18 other stocks remained stagnant and 13 stocks experienced correction.
Head of Research at Kiwoom Sekuritas, Liza Camelia Suryanata, highlighted the difference in direction between the domestic and global markets. While global markets tend to be driven by advancements in artificial intelligence (AI) and semiconductors, tech companies in Indonesia are currently focusing more on cost efficiency rather than aggressive business expansion.
According to Liza, the focus of national tech issuers remains constrained by profitability issues, fierce market competition, regulatory challenges, and workforce restructuring measures. These efficiency steps are clearly visible in the trend of mass layoffs carried out by several major players such as GoTo, Global Digital Niaga (BELI), and Bukalapak (BUKA) from 2025 through mid-2026.
On the IDX trading board, this sector includes a diverse range of business models, from hardware distributors like MTDL and GLVA, to data center infrastructure providers like DCII and EDGE. However, on a year-to-date (ytd) basis in 2026, the IDXTechno index remains under pressure with a correction reaching 31.66%.
Meanwhile, the Jakarta Composite Index (IHSG) closed in the green zone with an increase of 0.69% to the level of 5,916.07. Nevertheless, pressure from foreign investors continued, reflected in a net foreign sell of IDR 190.90 billion in today's trading, adding to the accumulated foreign sales of IDR 74.60 trillion since the beginning of 2026.
