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Record number of Indonesians rush into stock market
As the economic crisis sparked by the coronavirus has many people thinking about their financial future, more and more Indonesians are turning to stocks.
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Brokers monitor stock prices in Jakarta in this undated photograph. (JP/Nurhayati)
T
he Indonesia Stock Exchange (IDX) announced on Thursday that the country welcomed more than 1 million new equity investors in the first eight months of the year, as shown by the number of new single investor identities (SIDs) in the stock market. That is almost twice the 590,658 stock market entrants registered over the whole of last year.
The additional investors brought the total number of Indonesian retail equity investors to 2.69 million as of August.
IDX president director Inarno Djajadi said the number of 1 million new investors was record-breaking in the 44 years the IDX has been operating since its revival in 1977.
“Digital optimization that started in 2019 […] as well as collaboration with many stakeholders […] are the main reasons for the rapid increase in new investors this year,” he said in a press statement.
He went on to say that another record-breaking achievement was the addition of 2.2 million new SIDs in the capital market overall, which lifted the total number of capital market SIDs to 6.1 million as of Aug. 31.
IDX development director Hasan Fawzi said the new retail investors also translated to a 2.2-fold increase in the number of monthly active investors to 641,442 over the same period.
According to the Indonesian Central Securities Depository (KSEI), local investors now accounted for 55 percent of stock ownership and conducted Rp 13 trillion (US$913.8 million) worth of average daily transactions in July.
