OJK Reveals Indonesian Capital Market Shows Solid Performance Throughout 2024

Deputy Commissioner for Capital Market Investment Management and OJK Effect Institute Aditya Jayantara (center). (Photo: Aris Nurjani/VOI)

JAKARTA - The Financial Services Authority (OJK) revealed that the Indonesian capital market showed positive and solid performance throughout 2024.

Deputy Commissioner for Capital Market Investment Management and OJK Securities, Aditya Jayantara, said that the domestic capital market is considered stable and has successfully passed the momentum that greatly affects the economy, such as the implementation of the Presidential and simultaneous regional elections.

"We have gone through the presidential election process, legislative elections and regional elections that we can go through well to protect our capital market," he said at the Inauguration Press Conference for the Closing of Indonesia Stock Exchange Trading in 2024, Monday, December 30.

Aditya said that the movement of the Composite Stock Price Index (JCI) until December 27, 2024 was at the level of 7,036 or weakened by 3.25 percent year to date (ytd).

According to Aditya, throughout 2024 the JCI will move quite dynamically, although in a weakening trend due to global uncertainty, the JCI also touched its highest level or all time high (ath) at the level of 7,905 on September 19, 2024.

"Domestic capital market performance in the last year's journey shows quite high resilience amid global dynamic challenges," he said.

Meanwhile, Aditya said that the market cap or market cap value until December 27, 2024 was recorded at IDR 12,264 trillion, or an increase of 5.05 percent compared to December 29, 2023, which amounted to IDR 11,674 trillion.

Meanwhile, in the debt securities market, Aditya conveyed that the bond market index or the Indonesia Composite Bond Index (ICBI) until December 27, 2024 was at the level of 392.36, or grew 4.74 percent compared to December 29, 2023, which was at the level of 374.61.

In addition, Aditya said, the raising of funds in the capital market until December 27 was recorded at IDR 251.04 trillion from 187 public offerings with 35 of them being new issuers.

In detail, Aditya explained, there are 34 share issuers and 1 others are issuers of Debt and Sukuk (EBUS) Securities.

"This is clear evidence that trust in the Indonesian capital market continues to strengthen," he explained.

On the other hand, Aditya said that until December 24, 204, the number of Indonesian capital market investors reached 14,817,376 Single Investor Identification (SID) or grew 21.77 percent compared to 2023 as many as 12,168,061 SID in 2023.

Aditya said the growth in the number of investors was the result of the success of financial inclusion carried out by all stakeholders.

Meanwhile, Aditya said that since its launch on September 26, 2023, until December 27, 2024, there were 908,018 tons of equivalent CO2 transactions on the carbon exchange with a total transaction value of IDR 50.64 billion.

Still, Aditya said, until now there have been three SPE-GHKs registered on the carbon exchange, namely from the Lahendong Unit 5 Project & Unit 6 PT Pertamina Geothermal Energy Tbk (PGEO), the construction of a New Power Plant Fueled by PLTGU Block 3 PJB Muara Karang, and the Mount Wugul Minihydro Water Power Plant (PLTM).

"This shows that it is quite positive in response to initiatives and seeks to support the transition to low carbon," he said.