Jakarta. Indonesia's stock market posted broad gains last week as a surge in initial public offerings (IPOs) boosted trading activity and lifted market capitalization, while investor sentiment was supported by upbeat economic forecasts from the International Monetary Fund (IMF) and the Asian Development Bank (ADB).

The Indonesia Stock Exchange's (IDX) market capitalization rose 0.51% to Rp 10,340 trillion ($571 billion) at Friday's close, while the benchmark Jakarta Composite Index (JCI) gained 0.83% over the week to end at 5,924.36.

Trading activity also accelerated, with average daily transaction frequency jumping nearly 30% to 1.87 million trades from 1.44 million a week earlier.

The rally came during one of the busiest weeks for new listings this year, with six companies making their stock market debut. The IPOs included food producer Niramas Utama, eye hospital operator Nitrasanata Dharma, energy and telecommunications infrastructure provider Bach Multi Global, medical equipment distributor Esa Medika Mandiri, diagnostics manufacturer Prodia Diagnostic Line, and entertainment company RANS Entertainment Indonesia.

Together, the six companies raised more than Rp 1.85 trillion through their share offerings, helping sustain investor interest in the equity market.

The rupiah also strengthened 0.35% on Friday to Rp 18,065 per US dollar after the IMF and ADB reaffirmed positive growth expectations for Southeast Asia's largest economy.

The IMF projects Indonesia's economy to grow 5.0% in 2026 and 5.1% in 2027, while the ADB expects growth of 5.2% in both years. Although the forecasts underscore confidence in Indonesia's economic resilience, the IMF's 2026 projection remains below the government's 5.4% growth target.

Despite the market's gains, foreign investors remained net sellers, recording cumulative net sales of Rp 76.15 trillion in Indonesian equities so far this year.

Global sentiment, meanwhile, remained mixed as renewed geopolitical tensions in the Middle East continued to cloud investor confidence, even as Washington and Tehran signaled a willingness to keep diplomatic channels open.

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