Towards the end of the year, JCI must be below Singapore after having led the highest growth in ASEAN

Illustration (Photo: Doc. Antara)

JAKARTA – The Financial Services Authority (OJK) is holding a year-end reflection for the 2022 period in the capital market sector. OJK Capital Market Supervision Chief Executive Inarno Djajadi said that the latest developments in the stock market in the country were quite encouraging.

Even the Indonesian capital market is quite calculated in the Southeast Asian region. "The performance of the JCI is the second highest after Singapore when compared to the performance of all ASEAN exchanges," he said on Thursday, December 29.

He explained, as of December 28, 2022, the JCI was in the position of 6,850.52 points, or year to date it grew by 4.09 percent.

"Previously, the JCI was also at the first level in the ASEAN and Regional regions, and was ranked third in the world last November," he said.

Inarno added, throughout 2022 the growth of the JCI had also broken the highest record in history, namely at the level of 7,318.01, on September 13, 2022, to be exact. Meanwhile, the market capitalization value reached IDR 9,509 trillion, or year-to-date growth of 15.18 percent.

"In 2022, on December 27 2022 to be precise, the market capitalization on the Stock Exchange also recorded the highest record in history, namely IDR 9,600 trillion," he said.

In addition, the development of the Islamic capital market is also quite encouraging, as reflected in the increase in the value of the Indonesian Sharia Stock Index (ISSI) and the value of Islamic stock market capitalization.

As of 28 December 2022, the Indonesian Sharia Stock Index (ISSI) closed at 218.38 points, an increase of 15.53 percent compared to its position as of 30 December 2021 of 189.02 points.

Meanwhile, its market capitalization was recorded at IDR 4,801.27 trillion, an increase of 20.52 percent YTD when compared to the position as of December 30, 2021, which was IDR 3,983.65 trillion.

"After we have sailed together in 2022 which was very volatile and full of turmoil, we as regulators hope that the results of the capital market performance throughout this year can become provisions to increase our enthusiasm and optimism together in realizing Indonesia as a safe, comfortable and reliable place to invest, he closed.