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IDX Composite ‘best-performing’ Southeast Asian index in 2022
Indonesia has marked another milestone with the IDX Composite becoming the region's best-performing index of 2022.
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A cleaner polishes the Indonesia Stock Exchange (IDX) sign on March 2, 2020 at the bourse in Jakarta. (Antara/Galih Pradipta)
W
hile the Indonesia Stock Exchange (IDX) Composite, may have faced a couple of bumps in the road in 2022, it became the best-performing major index of the year in Southeast Asia as at Friday’s close, according to a high-ranking official at the Financial Services Authority (OJK).
The bourse’s main gauge, also known by its Indonesian abbreviation IHSG, concluded 2022 at 6,850 points on Friday, a downtick of 0.14 percent from Thursday’s closing, but up 4.09 percent from where it began the year.
OJK chairman Mahendra Siregar said the bourse had recorded 1.31 million transactions per day in 2022, the highest level in the region.
Read also: IDX expects lower daily transactions of Rp 14.75t in 2023
Meanwhile, the market cap increased 15 percent to US$600 billion, equivalent to 50 percent of Indonesia’s gross domestic product (GDP). Despite the significant increase, the figure still lagged behind other Southeast Asian countries, Mahendra said.
“These are remarkable achievements. We have to [keep improving] our integrity, accountability and credibility moving forward,” he said during a ceremony on Monday marking the IDX's first trading day for 2023, which was broadcast live.
Read also: RI capital market banks on local investors to survive 2023: IDX
The IDX Composite strengthened 10.08 percent year-to-date (ytd) to reach 6,581 points on Dec. 31, 2022.
Earlier in the year, it fell in May and July before recouping to stay above 7,000 as of early August. It then reached an all-time high of 7,318 points on Sept. 13, driven by foreign portfolio investments and high commodity prices.
Asia-Pacific stocks traded higher during its last trading session of the year after Wall Street bounced back overnight, recovering most losses made on the previous day.
Hong Kong’s Hang Seng index rose 0.52 percent in its final hour of trade, reflecting the sentiment from the US session. China’s Shanghai Composite gained 0.6 percent to close the year at 3,092, while the Shenzhen Component Index increased 0.27 percent to close at 11,025.
