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View all search resultsIDX market cap, index set new all-time highs in August
The IDX Composite fell as much as 3.6 percent at the market’s opening on Sept. 1, following political unrest that began the previous week, before regaining part of its losses over the course of the week.
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Workers clean the logo of the Indonesia Stock Exchange (IDX) below a screen displaying the IDX Composite index on Oct. 2024 at the bourse in Jakarta. (Antara Foto/Aprillio Akbar)
T
he Indonesian Stock Exchange (IDX) index and market capitalization hit new all-time highs in late August, a milestone that the Financial Services Authority (OJK) attributed to the country’s stronger economic fundamentals and improved outlook for the global financial market.
“On August 28, the IDX Composite reached its highest level at 8,022.76 and recorded an all-time high market capitalization of Rp 14.4 quadrillion [US$873.5 billion],” OJK head of capital market supervision Inarno Djajadi said in a virtual press conference on Thursday.
The stock market “generally posted positive performance” throughout the month, he added, with the IDX Composite standing at around 7,830 points, up 4.63 percent month-to-date (mtd) and 10.60 percent year-to-date (ytd) as of Aug. 29.
The agency also reported that the average daily transaction value in August stood at Rp 14.32 trillion, up from Rp 13.42 trillion in July. The figure represents an 11.42 percent ytd increase and is also higher than last year’s average daily transaction value of Rp 12.85 trillion.
The OJK further noted that stock transaction frequency climbed to an all-time high on Aug. 29, reaching 2.49 million transactions, surpassing the previous record of 2.36 million on Aug. 25.
Inarno said that foreign investor sentiment had improved after two consecutive months of net selling, with a net inflow of Rp 10.96 trillion in August. However, net sales since the beginning of the year still amounted to Rp 50.95 trillion.
“This indicates growing global confidence in Indonesia’s economic prospects,” he said.
