Weekly Recap: Indonesia's Stock Market Surges 1.4% Following Potential One-Round Election
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.
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
Five Dead, 227 Rescued After Ferry Fire Off Madura
At least 227 people have been rescued and five have died after a ferry caught fire off Madura, rescuers say.
AI’s Thirst for Water to Soar 129%, UN Warns
As many as 40% of the data centers in the world are in high-water stress areas, UN envoy Retno Marsudi says.
Philippines Eyes ASEAN Halal Standards
The Philippines is eyeing a halal recognition deal with Indonesia as it seeks regional standards for Sharia-compliant goods.
Ferry Carrying 250 People Catches Fire Off Madura, Rescue Underway
A rescue operation is underway after a ferry carrying about 250 people caught fire off Madura, East Java.
New BGN Chief Faces Fresh Mass Food Poisoning Case Nine Days Into Role
More than 700 students and teachers fell ill in the latest food poisoning case linked to Indonesia's free meals program.Most Popular
