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Indonesian stock market hits IPO funding, Southeast Asia listing records
The COVID-19 pandemic and the continuing growth of the digital economy helped the local bourse break new ground.
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Bull market: An employee cleans the Indonesia Stock Exchange (IDX) logo at the bourse's building in Jakarta on March 2, 2020. A number of Indonesian e-commerce unicorns made their debut on the IDX earlier this year. (Antara/Galih Pradipta)
T
he country’s stock market finished the year with record highs in initial public offerings (IPO) and investor numbers, despite a slide in the Indonesia Stock Exchange (IDX) Composite index on the year’s last trading day on Thursday.
“Investors and markets remain optimistic about Indonesia’s economy and capital market outlook. This can be seen by increased trading activities, IPOs and numbers of investors,” IDX president director Inarno Djajadi told reporters on Thursday.
This year, the total funds raised through IPOs reached an all-time high of Rp 62.61 trillion ($4.39 billion), compared to the usual of between Rp 10 trillion and 20 trillion annually, aided by the jumbo IPO of e-commerce platform Bukalapak in July.
Meanwhile, the number of portfolio investors increased 92.7 percent annually to 7.47 million this year, the highest growth rate since 2016, according to Indonesian Central Securities Depository (KSEI) data.
The number of stock investors alone grew by 103 percent annually to 3.44 million in the same period, and retail investors dominated stock market trading for the first time ever, accounting for an average of 56.2 percent of daily trading volumes, compared to 48.4 percent last year.
The IDX Composite slid 0.29 percent to 6,581 on Thursday, but managed to close above 6,700 for the first time in the bourse’s history in November.
Read also: Indonesian portfolio investors grow at five-year high in 2021
