Japan Towards Recession, IDX: No Significant Impact To The Indonesian Capital Market
JAKARTA - Director of Indonesia Stock Exchange Development (IDX) Jeffrey Hendrik said the recession conditions faced by Japan and Britain had no significant impact on the performance of the Indonesian capital market and his party did not prepare special anticipation regarding the recession of the two largest economies in the world.
"No, no. At this time we are still net inflowing for stock trading. So there is no significant impact, negative impact," Jeffrey told reporters at the IDX Building, Monday, February 19.
Jeffrey said the IDX continues to see the development of the global economy and its influence on the country's capital market. And will try to take advantage of this momentum in order to attract foreign investors to enter the capital market.
"That's what we are doing to make us more competitive from time to time. Our market is getting deeper, so foreign investors prefer Indonesia to invest in other countries," he said.
The target for the 2024 IDX's Average Daily Transaction Value (RNTH) is IDR 12.25 trillion. To achieve this target, domestic and foreign investors are expected to contribute to share transactions in Indonesia.
According to Jeffrey, if you look at the macroeconomic condition of Indonesia and the performance of issuers still shows a positive performance.
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"We see it from macro how the Indonesian economy is, then the performance of issuers as long as everything is positive, I think it can be an attraction for foreign investors," continued Jeffrey.
It is known, Japan has officially reported a contraction for two consecutive quarters. Japan's economy slumped 0.4 percent on an annual basis in the fourth quarter of 2023 after reporting a contraction or a decrease of 3.3 percent in the previous quarter.
In addition, the fourth quarter's GDP report far missed the estimated 1.4 percent growth in a Reuters economist poll. On a quarterly basis, Japan's GDP fell 0.1 percent compared to an estimated 0.3 percent increase in Reuters polls.