JAKARTA - The Composite Stock Price Index (JCI) has fallen 19.48% in the last five months, since the inauguration of Prabowo Subianto-Gibran Rakabuming Raka as President and Vice President of the Republic of Indonesia on 20 October 2024.

According to IDNFinancials.com's monitoring, the JCI was still at 7,772.60 on 21 October 2024. However, at the end of last week, the index closed lower at 6,258.18.

The Indonesian government is targeting investment realisation of IDR1,905 trillion by 2025. This is 15.5% higher than the 2024 investment realisation, which reached IDR1,714.2 trillion.

However, foreign investors were still dominant with selling, recording a net sell of IDR33.18 trillion. This selling pressure has contributed to the decline in the JCI to 11.61% year-to-date (ytd).

Head of Research at Kiwoom Sekuritas, Liza Camelia Suryananta, assessed that the current Indonesian government seems to have forgotten to maintain a conducive and structured capital market climate.

In fact, said Liza when contacted by IDNFinancials.com a few days ago, ‘the position of our JCI in the capital market is actually a leading representation of the health condition of companies in this country.’ (KR/LM)