Foreign Selling Pressure Eases, OJK Reveals the Performance of the Indonesian Capital Market Strengthens

Head of the Capital Market, Derivatives, and Carbon Exchange Supervisory Authority, OJK, Hasan Fawzi. (Photo: ANTARA)

JAKARTA - The Financial Services Authority (OJK) noted that the performance of the capital market, derivative finance, and carbon exchange (PMDK) continued to show positive developments throughout July 2026.

The strengthening is mainly seen in the stock market, accompanied by an increase in the number of investors and the continued strength of corporate fund-raising.

The Head of the Capital Market, Derivatives Finance, and Carbon Exchange Supervisory Authority of OJK, Hasan Fawzi, said that the domestic stock market moved stronger in July 2026, supported by a number of positive sentiments from both within and outside the country.

"JCI closed at 6,236.13 at the end of July or increased by 10.51 percent (month-to-month/mtm)," he said in a press conference, Tuesday, August 4.

He said that foreign investor selling pressure had also begun to ease, reflected by a net buy position of IDR 1.62 trillion throughout July 2026.

In terms of market resilience and liquidity, the condition of the domestic capital market is also considered to be maintained, namely the average bid-ask spread in the stock market during July was recorded at 1.33 percent, narrowing compared to the previous month which was at the level of 1.75 percent.

"This is certainly in line with the direction of the recovery of the movement of stock prices in our market," he explained.

In the bond market, the Indonesia Composite Bond Index (ICBI) at the end of July 2026 was at the level of 430.46 or increased by 0.14 percent (mtm).

In addition, foreign investors' interest in State Securities (SBN) instruments is still positive with a net buy position of IDR 6.39 trillion month to date as of July 29, 2026.

"In line with the improvement in performance in the stock market, the performance of the investment management industry also remained positive in the reporting month," he said.

Meanwhile, the net asset value (NAB) of mutual funds reached IDR 663.26 trillion as of July 30, 2026, up 1.59 percent month to date.

In the same period, mutual fund investors recorded a net subscription of IDR 3.43 trillion on a month-to-date basis, and year-to-date, total net subscriptions reached IDR 1.29 trillion.

Meanwhile, the number of capital market investors is also increasing, namely throughout July 2026, the number of investors increased by approximately 1.1 million on a month to date basis, so that the total number of investors reached 30.06 million or grew by 47.63 percent year to date.

According to Hasan, this growth is in line with various market deepening initiatives and strengthening the digital ecosystem in the capital market industry.

In terms of fund-raising, domestic corporations still show strong activity. As of the end of July 2026, the value of fundraising in the capital market reached IDR 121.96 trillion year to date. In addition, there are 15 public offering plans that are still in the pipeline.

Meanwhile, the fund-raising through the securities crowdfunding (SCF) mechanism has cumulatively reached Rp2.01 trillion.

In the derivatives financial market, the cumulative transaction volume from January to July 2026 was recorded at 297,853 lots. Meanwhile, in the carbon exchange, as of July 2026, there were 155 service users who had been registered.

Meanwhile, the cumulative volume of carbon exchange transactions reached 1.98 million tons of CO2 equivalent with a transaction value of IDR 93.89 billion.

In terms of enforcement of provisions in the PMDK sector, OJK has imposed various administrative sanctions by the end of July 2026, namely year to date, OJK imposed a fine of IDR 91.09 billion to 104 parties.

In addition to the fine, OJK imposed two sanctions for revocation of permits, one sanction for cancellation of the Letter of Record (STTD), six sanctions for freezing permits, as well as nine written warning sanctions, and eight sanctions in the form of written orders.

Hasan said the OJK together with the Self-Regulatory Organization (SRO) continued to accelerate the implementation of the capital market integrity reform agenda.

According to him, this step is aimed at strengthening transparency, credibility, and integrity as well as increasing the attractiveness of investment in the Indonesian capital market.

He said that one of the agendas carried out in July 2026 was the improvement of the methodology for determining high shareholding concentration (HSC)

"HSC improvement of this HSC methodology will also support the creation of increasingly orderly, reasonable, and efficient securities trading," he said.

Hasan added that OJK also continues to strengthen communication with global investors through the Investor Advisory Group (IAG) and various other forums, including with global index providers.

"This step will continue to be carried out continuously as part of our commitment to encourage openness to improve market quality and also the effectiveness of implementing integrity reform agendas in the domestic capital market," he explained.