IDX Optimistic JCI Reaches 9,000 Until The End Of 2025

JCI (Photo: Antara)

JAKARTA - PT Bursa Efek Indonesia (IDX) is optimistic that the Composite Stock Price Index (JCI) will have the opportunity to break through the 9,000 level by the end of 2025.

Director of Trade and Regulation of IDX Exchange Members Irvan Susandy expressed this belief based on positive trends in the capital market and improving national economic conditions.

"Yes, be optimistic, (JCI level) 8,000 achieved right. Good right? The hope is that the financial reports are also good. The economic condition is good. The growth continues to rise, right? Good transactions. Retail is good. Listed company is also good so far, right? Development. So we should be optimistic. At the end of the year 9,000, God willing," he explained to the media crew, Monday, November 3.

Furthermore, Irvan explained that the IDX continues to take various steps to encourage increased market activity, including through the addition of new products.

"We are waiting for ETF Gold. Several improvement mechanisms (such as trade), non-cancellation period. Maybe a lighthouse IPO, is there a word, right? Three yes? This year. God willing," he explained.

Previously, IDX President Director Iman Rachman emphasized that the IDX's focus was not on certain figures, but on strengthening market fundamentals as the main basis for index movement.

"We continue to hope that our index will continue to rise, no matter how many numbers," he said at a virtual press conference of the Extraordinary General Meeting of Shareholders (EGMS), Wednesday, October 29.

He added that the JCI discussion should be directed at efforts to strengthen market foundations, not just number predictions.

"Yesterday we spoke frankly, 8,000 are still a necessity, and it turns out that it can be achieved even faster than the target. This means that we do not discuss the JCI, but what efforts are being made that have an impact on the JCI. JCI, in my opinion, is the result," he explained.

Iman also emphasized that the performance of the stock market is not only determined by the high trade activity, but also the fundamental quality of the listed company.

"Not only can we talk, oh the trading is crowded, but if the company's fundamentals are not good, it doesn't increase the market cap. So there are many things that affect the JCI," he said.