JAKARTA PT Bank Mandiri Tbk. predicts that the movement of the combined stock price index (IHSG) will remain in a positive trend this year.

Mandiri Sekuritas President Director Silva Halim revealed that this optimism was based on the realization of successful performance during the 2022 period. According to him, the provision became valuable capital in navigating the 2023 business year which was considered still filled with continued uncertainty.

"We are optimistic that economic growth and capital markets will remain resilient in 2023, the same as in 2022. Even though there are predictions that the turmoil will continue, we are still confident that the JCI in 2023 will reach 7,510," he told reporters via virtual channels, Tuesday, January 24.

Silva explained that his party found that a limited shock had occurred in the capital market due to China's market reopening which was faster than previously estimated.

"This is beyond investor expectations. However, in terms of valuation, the JCI remains attractive compared to other emerging market countries with relatively high growth rates and also larger banking liquidity conditions," he said.

Through these factors, Silva is sure that investors will still invest in Indonesia.

"Therefore, we hope that investment will continue to grow," he said.

Quoting a broadcast reported by the Financial Services Authority (OJK) it is known that As of December 30, 2022, the JCI has been at 6,850.62 points or managed to grow by 4.09 percent year to date (ytd).

Along with the JCI growth, market capitalization also grew by 15.06 percent ytd, which was IDR 9,499 trillion or 50 percent of GDP Indonesia 2022.

JCI itself last year broke a record high in history at the level of 7,318.01 points, to be precise on September 13, 2022.

Likewise, market capitalization recorded the highest record in history on December 27, 2022, amounting to IDR 9,600 trillion.


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