Jakarta. During the period from February 5 to 7, 2024, the Composite Stock Price Index of the Indonesia Stock Exchange (IDX) experienced a marginal correction of 0.05 percent, concluding at 7,235.15, down from the previous week's closing figure of 7,238.78.

Simultaneously, market capitalization witnessed a weekly upswing of 0.19%, reaching Rp 11,481.43 trillion ($735,67 billion), an increase from the previous week's Rp 11,460.02 trillion.

The average daily stock transaction volume saw a noteworthy surge, rising by 22.8 percent to 21.15 billion shares, compared to 17.23 billion shares the preceding week. However, the average daily stock transaction value decreased by 4.37 percent, totaling Rp10.03 trillion, down from Rp 10.49 trillion in the prior week. Additionally, the average daily stock transaction frequency experienced a 7.34 percent decline, totaling 1,032,639 transactions, in contrast to 1,114,490 transactions recorded in the previous week.

Foreign investors marked a net purchase value of Rp1.43 trillion on Friday, contributing to a year-to-date net purchase value of Rp12.38 trillion in 2024.

In the bond market, 12 issuances from 11 issuers were recorded in 2024, amounting to a total of Rp 11.88 trillion. The overall outstanding bonds and sukuk listed on the IDX totaled 550 issuances from 128 issuers, with a combined value of Rp466.48 trillion and $32.362 billion. Government Securities (SBN) listed on the IDX comprised 186 series with a total value of Rp 8,522.38 trillion and $502.10 million. Furthermore, Asset-Backed Securities (EBA) consisted of 10 issuances with a total value of Rp 3.25 trillion.

 The Central Statistics Agency (BPS) on Feb. 5 reported that Indonesia's economy expanded by 5.05 percent in 2023, boosted by domestic consumption and infrastructure spending. Despite varying predictions, Chief Economic Minister Airlangga Hartarto remains optimistic about attaining the 2024 economic growth target of 5.2 percent.

The International Monetary Fund (IMF) anticipates global economic growth to reach 3.1 percent in 2024 and 3.2 percent in 2025. In contrast, Indonesia is expected to maintain a growth rate of 5 percent for both the current year and the following year.

On the other hand, The World Bank foresees a decline in growth, dropping from 5.3 percent in 2022 to 5 percent in 2023. This downward trajectory extends into 2024 and 2025, with the growth rate projected to be 4.9 percent in each of those years.

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