Jakarta. The Indonesian capital market has celebrated notable accomplishments in the past year, marked by a record-breaking surge in new memberships and capital inflows surpassing Rp 200 trillion, the Financial Services Authority (OJK) reported on Tuesday.

In 2023, the Indonesia Stock Exchange (IDX) welcomed 79 new members, inching the bourse closer to a significant milestone of 1,000 members overall.

“The capital inflow into our capital markets has surpassed the annual target of Rp 200 trillion. Moreover, the number of new [IDX] members sets a new record in the region,” OJK Head Mahendra Siregar said during the annual gathering of financial service industries in Jakarta, attended by President Joko Widodo.

On the final trading day of 2023, the composite index concluded at 7,303.89 points, marking a 6.62 percent year-on-year increase. The IDX’s market capitalization also experienced a substantial surge, rising by 23.82 percent to reach Rp 11,762 trillion.

The count of individual investors in the Indonesian capital markets saw a remarkable 17.6 percent year-on-year increase, reaching 12.1 million, with more than half being under 30 years old.

Indonesian banks achieved an average capital adequacy ratio of 27.65 percent, a feat Mahendra claimed to be the highest in Southeast Asia.

"Building on the positive performance of the Indonesian economy in 2023, the financial service sector has experienced robust growth supported by a strong capital foundation, a reasonable degree of liquidity, and prudent risk management,” Mahendra said.