JCI Rises on 2025 Opening Day, VAT Policy Eases Investor Concerns
Jakarta. The Jakarta Composite Index (JCI) kicked off 2025 on a positive note, gaining 12.52 points (0.18 percent) to reach 7,092.4 in the first session on Thursday.
Finance Minister Sri Mulyani officially opened the 2025 trading year at the Indonesia Stock Exchange (IDX), replacing President Prabowo Subianto, who was unable to attend. The ceremony, held at the IDX Main Hall in Jakarta, was also attended by Bank Indonesia Governor Perry Warjiyo, Financial Services Authority (OJK) Chairman Mahendra Siregar, Deposit Insurance Corporation (LPS) Chairman Purbaya Yudhi Sadewa, and IDX President Director Iman Rachman.
In the early minutes of trading, 1.44 billion shares changed hands, with a transaction value of Rp 365.9 billion across 29,920 trades. A total of 221 stocks posted gains, 106 declined, and 226 remained unchanged.
Five stocks emerged as top gainers, surging by up to 16 percent. These included Mulia Boga Raya (KEJU), which soared 16.6 percent, Multi Medika Internasional (MMIX) climbing 13.8 percent, and Wahana Pronatural (WAPO) gaining 12.5 percent. Sinar Eka Selaras (ERAL) and Agro Yasa Lestari (AYLS) followed with increases of 9.7 percent and 8.5 percent, respectively.
JCI Forecast
Pilarmas Bertumbuh Sekuritas projected the JCI to trade within a limited range of 7,000–7,140, buoyed by optimism from a new tax policy. President Prabowo announced that the Value-Added Tax (VAT) hike from 11 percent to 12 percent, effective January 1, 2025, would only apply to luxury goods, such as private jets, luxury homes, and yachts.
The policy, formalized under Finance Minister Regulation No. 131 of 2024, offers a positive outlook for the Indonesian economy, which is heavily reliant on middle-class consumption. “This change provides a breath of fresh air for economic growth,” Pilarmas noted in its research on Thursday.
The firm recommended stocks such as RAJA, INDY, GOTO, BBRI, and ADRO for investors to watch.
A Historic Year for IDX
The IDX closed 2024 with a 43.33-point gain (0.62 percent) at 7,079.9, despite recording a 3.33 percent decline for the year. The market achieved historic highs in September, with the JCI peaking at 7,905.39 and market capitalization reaching Rp 13,475 trillion ($835 billion).
The exchange also saw robust activity, with 41 new stock listings, 143 bond and sukuk issuances, one new exchange-traded fund (ETF), and 495 structured warrants introduced during the year.
Tags: Keywords:Related Articles
JCI Ends Week Higher as Investors Digest Earnings, Fed Decision
JCI rose 0.64% as strong corporate earnings offset uncertainty over Bank Indonesia’s leadership and foreign outflows.
Indonesian Stocks Advance as Wall Street Surge Offsets Budget Concerns
Indonesian stocks rose 0.54% as a Wall Street tech rally and new 40-year mortgage policy outweighed budget allocation concerns.
Indonesia Stocks Jump 1.6% as Blue Chips, Earnings Offset BI Succession Concerns
Indonesian stocks jumped 1.56% as blue chips and earnings optimism outweighed uncertainty over Bank Indonesia's next governor.
Indonesian Stocks Rise as Investors Weigh Fed Signals, BI Independence Risk
Indonesian stocks opened 0.57% higher as investors assessed the Fed's rate decision, BI independence concerns and capital market reforms.
Indonesian Stocks Fall as Rating Agencies Raise Questions Over BI Independence
Indonesian stocks fell 0.64% as concerns over Bank Indonesia's independence and the Fed's policy decision weighed on sentiment.
Indonesian Stocks Bounce Back as Investors Eye Fed Verdict, Fresh US Tariff Threats
Indonesian stocks opened higher as investors awaited the Fed decision, BI governor succession, and monitored fresh US tariff risks.
Indonesian Stocks Slide Nearly 1% at Tuesday as Investors Weigh BI Transition, Fed Outlook
Indonesian stocks slid nearly 1% as investors weighed Bank Indonesia's leadership transition and awaited the Fed's policy decision.
BNI Plans Rp 627 Billion Share Buyback
Bank Negara Indonesia plans a Rp 627 billion share buyback after its stock fell 24% this year despite solid earnings and loan growth.
Indonesian Stocks Open Lower as BI Leadership Transition, Fed Decision Keep Investors Cautious
Indonesian stocks opened lower as BI's leadership transition and the Fed decision kept investors cautious. JCI slipped 0.16%.
Indonesia Stocks Fall as Perry's Exit Raises Questions Over BI Succession
Indonesia stocks slipped as Perry Warjiyo's resignation fueled uncertainty over Bank Indonesia's leadership despite a broader Asia rally.The Latest
Prabowo Says South Korea's Lee Asked Indonesia to Help Open Dialogue With North Korea
President Prabowo Subianto says South Korea's Lee Jae Myung asked Indonesia to help open dialogue with North Korea.
Pullman Hotel Fire in Jakarta Suspected to Stem From Electrical Fault
Police will deploy a forensic team to investigate a fire at Pullman Hotel in West Jakarta, with an electrical fault suspected as the cause.
Pertamina Slashes Prices of Three Fuels From Aug. 1
Pertamina cut prices for three non-subsidized fuels from Aug. 1.
Trump Too Stubborn to Rejoin Paris Agreement: Indonesian Minister
Indonesia's Environment Minister Jumhur Hidayat says other countries should deal with Trump quitting the Paris Accord.
Indofood Sales Rise 9% as Rupiah Weakness Hits First-Half Profit
Indofood’s first-half sales rose 9%, but net profit fell 19% as rupiah weakness increased unrealized foreign-exchange losses.Most Popular
