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Daily transactions to reach Rp 15 t, says IDX
Indonesia Stock Market (IDX) president director Tito Sulistio said on Tuesday that he was optimistic the marketâs stock transactions would increase to Rp 15 trillion (US$1
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ndonesia Stock Market (IDX) president director Tito Sulistio said on Tuesday that he was optimistic the market's stock transactions would increase to Rp 15 trillion (US$1.09 billion) per day in the next two or three years.
'Our belief is based on the fact that the public's interest in becoming investors has continued to increase and the IDX and its related parties have expanded their education efforts,' he said as quoted by Antara on the sidelines of an event to celebrate the market's 38th anniversary at state senior high school SMA Negeri 15 Surabaya, on Tuesday.
Currently, Tito said, the average volume of daily transactions on the IDX was in between Rp 5 trillion and Rp 6 trillion.
Indonesia's neighboring countries, such as Thailand, have recorded daily transaction totals of 1.5 times those of the IDX.
'Even China manages to record a daily stock transaction of up to US$200 billion, far higher than Indonesia's daily transaction, which amounts to only around $500 million,' he said.
To that end, Tito said, the IDX was ready to take measures so that its performance would be more qualified and could compete with other stock markets in ASEAN.
'The first step we will take is to expand our investor base. It is hoped all parts of society can join in the capital market,' he said.
As the next strategy, Tito said, the quality of the capital market's transactions would be continuously improved and expanded. Moreover, the IDX had also aimed to increase its number of publicly listed companies.
'Although the national economy is slowing down, we are still certain that we will manage to increase our number of publicly listed companies by 30 to 40 companies each year, and even by 50 companies in the future,' said Tito.
Unlike in 1998, during which stocks in many companies tended to decline, Indonesia's economic slowdown this year has not lead to very significant declines in stock prices.
'Moreover, there are several stock products with qualified commodities. Once the stocks are listed well, investors will be attracted and ready to invest,' said Tito. (ebf)(++++)
