IDX Calls JCI Attractive After Eid Joint Leave

JAKARTA - The Indonesia Stock Exchange (IDX) conveyed that the movement of the Composite Stock Price Index (JCI) and trading daily transaction activities were quite attractive after the Joint Holidays and Leave commemorating Eid al-Fitr 1444 Hijriah.

"If we look at the JCI movement and transaction activities for three trading days after the Eid holiday, it is quite attractive. JCI returns to the level of 6,900 and the average daily transaction value is at the level of Rp13.3 trillion," said Director of Trade and Member Regulation of the Indonesia Stock Exchange (IDX) Irvan Susandy, quoting Antara.

He said the average daily transaction value of IDR 13.3 trillion increased significantly when compared to the average daily transaction value on an annual basis in the previous period which was in the range of IDR 10 trillion.

Foreign investor activities also recorded net buys for three days with a total of IDR 2.8 trillion, added Irvan.

He explained that one of the factors that was the driving force was the period for submitting the issuer's Financial Report (open company) for the first quarter of 2023.

From the temporary collected data, namely as many as 144 open companies, he revealed that revenue and net profit increased by 10.87 percent year on year (yoy) and 4.12 percent yoy in the first quarter of 2023, respectively, compared to the same period in the first quarter of 2022.

"In addition, several companies are also entering the dividend distribution period," said Irvan.

On the other hand, his party still hopes that the normalization of IDX trading hours will encourage transaction activities in the middle of the JCI which is in a fairly long period of sideways in recent months.

"Although it is still too early to see the effect, from one month of implementation, especially three days after the Eid holiday, this increase can be seen," said Irvan.

As is known, the IDX officially normalizes trading hours starting April 3, 2023, namely the regular market trading hours on Monday- Thursday the first session will start at 09.00 to 12.00 WIB.

Then, session II starts at 13.30 to 15.49 WIB, with the post-closure session to 16.01 to 16.15 WIB.

Meanwhile, on Friday the regular market trading hours of session I will start from 09.00 to 11.30, and the second session starts from 14.00 to 15.49 WIB, with the post-closure session to 16.01 to 16.15 WIB.