Jakarta. The Indonesia Stock Exchange (IDX) rose by 1.39 percent on Friday, closing at 7,335.545, up from the previous week's 7,235.152. This positive momentum was fueled by a combination of election sentiment and the ongoing trade surplus.

Analysts attribute the positive market sentiment to the potential victory of presidential candidate Prabowo Subianto in a single round, as indicated by real count results from the General Election Commission (KPU). As of Saturday, Prabowo is leading the race with 57 percent of the votes, followed by Anies Baswedan at 25 percent and Ganjar Pranowo at 18 percent.

In addition, Indonesia has sustained a trade surplus for 45 consecutive months, recording a surplus of $2.02 billion (Rp 31.3 trillion) in January 2024, despite a notable decline in exports.

The market capitalization for the week also saw a rise of 1.06 percent, reaching Rp 11,603.01 trillion from Rp 11,481.43 trillion the previous week.

The average daily stock transaction value rose by 37.79 percent to Rp 13.82 trillion from Rp 10.03 trillion the previous week. This was followed by a 25.37 percent increase in the average daily stock transaction frequency, reaching 1,294,615 transactions from 1,032,639 transactions the previous week.

Meanwhile, the average daily stock transaction volume experienced a 16.22 percent decline, totaling 17.72 billion shares compared to 21.15 billion shares the previous week. Foreign investors also made a notable impact, recording a net buying value of Rp 1.64 trillion on Friday, bringing the year-to-date net buying value to Rp 20.05 trillion in 2024.

Throughout the week, six companies made their stock market debut. Starting on Monday, Harta Djaya Karya (MEJA), Multikarya Asia Pasifik Raya (MKAP), and Homeco Victoria Makmur (LIVE) listed their stocks on the IDX. On the following Tuesday, Ecocare Indo Pasifik (HYGN) followed suit. Then on Thursday, Bersama Mencapai Puncak (BAIK) began listing its stocks on the BEI, becoming the 18th company to be listed in 2024.

The total issuance of bonds and sukuk (Islamic bond) registered in 2024 includes 13 issuances from 12 issuers amounting to Rp 13.38 trillion. With these additions, the total outstanding nominal value of bonds and sukuk listed on the IDX stands at 550 issuances, totaling Rp 468.28 trillion and $32.362 billion, issued by 128 issuers. Government Bonds (SBN) listed on the BEI consist of 186 series with a nominal value of Rp 5,810.39 trillion and $502.10 million.

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