OJK: Indonesian Stock Market Strengthens 0.3 Percent Throughout August

JAKARTA - The Board of Commissioners (RDK) Meeting of the Financial Services Authority (OJK) stated that the Indonesian stock market until August 31, 2023 will remain resilient. The Composite Stock Price Index (JCI) strengthened by 0.32 percent throughout August.

This number strengthened to the level of 6,953.26 compared to July 2023 amounting to 6931.36 with non-residents recording an outflow of Rp20.10 trillion mtd.

"Especially due to crossing transactions as of July 2023 and inflow of Rp2.72 trillion," said Inarno in a virtual press conference for the August 2023 RDK, which was held virtually, Tuesday, September 5.

He continued, the largest JCI issuer in August 2023 was recorded in stocks in the raw goods sector and also in the infrastructure sector.

On a YTD basis, the JCI was recorded to have strengthened by 1.50 percent with non-residents posting net sales of IDR 1.18 trillion compared to July 2023, still net buy of IDR 18.92 trillion.

Inarno added, from the liquidity side of daily transaction averaged transaction value (RNTH) of the stock market in August 2023 to Rp11.2 trillion and an average of Rp10.38 trillion this year.

Meanwhile in the bond market, the bond market index or ICBI (Indonesia Composite Bond Index) strengthened 0.09 percent of MTD or strengthened 7.17 percent of YTD to 369.52 levels.

"For the corporate bond market, the flow of non-resident investors was recorded at Rp211.93 billion MTD and YTD was still recorded as an outflow of Rp561.98 billion," he explained.

Furthermore, the Government Securities Market (SBN) is said to have booked foreign investors' outflows of Rp. 8.89 trillion MTD, which was dammed in July 2023 and inflowed by Rp. 8.30 trillion MTD, thus encouraging an increase in the average SBN yield of 11.88 bps in all tenors.

"On an YTD basis, the SBN yield decreased by 41.92 bps in all tenors with non-residents recording net buys of Rp. 84.11 trillion YTD," added Inarno.

On the other hand, in the investment management industry, the value of Asset Under Management (AUM) was recorded at IDR 844.47 trillion, an increase of 2.05 percent ytd with a net asset value (NAB) of mutual funds as of August 31, 2023, recorded at IDR 513.24 trillion, down 0.66 percent MTD.

"In addition, mutual fund investors also posted a net subscription of Rp6.79 trillion MTD. Meanwhile, in terms of YTD, NAB increased 1.66 percent and recorded a net subscription of Rp8.58 trillion," concluded Inarno.