OJK Chairman Mahendra Siregar: The Indonesian Capital Market Still Shows Strong Stability

Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar. (Photo: Doc. Antara)

JAKARTA - Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar said the Indonesian capital market still shows strong stability despite the global economic conditions facing uncertainty caused by geopolitical tension and normalization of commodity prices.

"In the past 47 years, the Indonesian Capital Market has shown its ability to adapt and develop continuously, so that it is still able to play an important pillar in national economic development," Mahendra said in Jakarta, quoted from Antara, Tuesday, August 13.

This is shown by as of August 9, 2024, the Composite Stock Price Index (JCI) is at the level of 7,257 points, with stock market capitalization reaching IDR 12,302 trillion, reflecting growth of 5.38 percent year to date (ytd).

OJK continues to encourage the strengthening of integrity and expansion of capital market financial inclusion to further support sustainable economic growth in Indonesia.

OJK is committed to maintaining public trust, investors, through transparency, integrity, and also expanding financial inclusion, so that more people are involved in becoming investors and experiencing even greater capital market benefits.

"And continue to support economic growth and sustainable development towards Golden Indonesia," he said.

Meanwhile, OJK Chief Executive Supervision of the Capital Market, Derivative Finance, and Carbon Exchange Inarno Djajadi said that the capital market had reached the highest JCI on March 14, 2024, at the level of 7,433 points, and the highest market capitalization value reached IDR 12,469 trillion on May 28, 2024.

The Indonesia Composite Bond Index (ICBI) also recorded growth of 3.29 percent ytd with a level of 386.94 on August 8, 2024.

Fundraising in the Indonesian capital market continues to increase.

As of August 9, 2024, the OJK has made Effective Statements on 132 Registration Statements in the context of the Public Offering with a total value of Rp1,309 trillion.

Of these, 28 of them are new issuers consisting of 27 stock issuers and one issuer of debt/sukuk effect.

In addition, the raising of funds by SMEs through Securities Crowdfunding (SCF) also increased, with the total collected funds of IDR 1.15 trillion from 579 SMEs as of July 30, 2024.

The number of investors in the Indonesian capital market continues to increase significantly, the number of investors was recorded at 13.43 million, an increase of 10.4 percent (ytd), with the majority of investors under the age of 30 reaching 55.38 percent of total investors.

"This shows that young people are increasingly understanding the importance of investing in the capital market from an early age," he said.