JCI All-Time High 24 Times Throughout 2025, Prabowo's Presence Anticipated at the Opening of the BEI 2026 Trade

JAKARTA - The opening of trading on the Indonesia Stock Exchange (IDX) at the beginning of the year is always a moment that market participants pay attention to. In addition to marking the start of trading activities for the current year, this agenda is often interpreted as a reflection of the government's attention and support for the national capital market industry.

At the opening of the 2025 IDX trading, President Prabowo Subianto was not present and was represented by Finance Minister Sri Mulyani. However, the Indonesian capital market recorded solid performance throughout this year, with a significant strengthening of the Composite Stock Price Index (JCI) which broke several all-time highs.

The JCI closed up 22.10% year-to-date at 8,644.26 on Monday, December 29. Previously, on Monday, December 8, the index even recorded an All Time High record at 8,710.69. The strengthening was accompanied by an increase in investor participation and transaction liquidity, reflecting market participants' optimism about the prospects for the Indonesian capital market.

In the midst of a strong market performance, capital market analyst Hans Kwee said that the presence of state officials in the opening ceremony of the trade has a symbolic meaning. According to him, directly the presence of the President or high-ranking officials is not the main factor determining the movement of the JCI, but can reflect the government's support and attention to the capital market.

"The President's presence shows the government's concern about the financial industry, especially the capital market, although the direction of the market is still determined more by economic fundamentals, stock valuations, as well as global and domestic sentiments," he told the media, Tuesday, December 30.

Furthermore, Hans assessed that the strengthening of the JCI throughout 2025 did not occur instantly and was not just a momentary phenomenon. According to him, the market had faced quite a lot of pressure at the beginning of the year, including a sharp correction influenced by global sentiment.

"At the beginning of the year, the index was in the range of 7,100. The market had weakened and even experienced trading halt in March, triggered by global dynamics and the United States' reciprocal tariff policy," he said.

As time goes on, continued Hans, investors' perceptions of global and domestic risks are assessed to have improved. External uncertainties are no longer seen as bad as before, while the movement of large-cap stocks also supports the strengthening of the index. On the other hand, domestic sentiment is also supported by optimism about policy improvements and economic communication.

"Markets tend to be calmer when there is an acknowledgment that the economy is facing challenges and needs to be improved. This gives investors room to see medium- and long-term opportunities," he explained.

It is known that the strengthening of the JCI is also in line with the growth of the capital market investor base. Based on BEI data, as of December 29, 2025, the number of Single Investor Identification (SID) reached 20.32 million, with the number of stock investors reaching 8.59 million. The market capitalization was recorded at Rp. 16,000 trillion or equivalent to around 70 percent of the Gross Domestic Product (GDP).

Transaction liquidity also set a new record, with an average daily transaction value of IDR 18.06 trillion. This data shows the increasing role of the capital market in the national economy, both as a means of investing in the community and as a source of funding for the business world.

With the solid performance of the capital market throughout 2025, attention now shifts to the opening of the 2026 BEI trading. Market participants are looking forward to policy signals and government support directions for the development of the capital market in the future, including clarity on the role of the capital market in driving national economic growth. The presence of President Prabowo Subianto at the opening of the 2026 trade is also considered an important signal for market participants in maintaining the positive momentum of the Indonesian capital market in the coming year.