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Indonesia stock market finishes 2016 with rebound

by December 30, 2016 General

The Indonesia Stock Exchange (IDX) closed on Friday, the final trading session of the year, with its benchmark Jakarta Composite Index (JCI) at 5,296, up by 15.3 percent from its position during 2015’s year-end closing.

Coordinating Economic Minister Darmin Nasution, who replaced President Joko “Jokowi” Widodo at the last minute for the IDX closing bell ceremony, said the annual return from Indonesia’s stock market only fell behind that of Brazil, Russia, Thailand and Canada. Even in the Asia-Pacific region, it only came second behind Thailand, which this year recorded an annual return of 23.89 percent.

“I appreciate the hard work of the IDX board of directors for this achievement,” Darmin said.

(Read also: Indonesian stock market ends 2015 on a low note)

On Dec. 31, 2015, the JCI closed at 4,593 points, down by about 12 percent from the 5,227 points recorded on the final trading day in 2014.

Separately, Financial Services Authority (OJK) chairman Muliaman Hadad said Indonesia for this year had seen a 68.94 percent year-on-year increase in the total worth of initial public offerings (IPO), bond issuances and rights issues, to Rp 194.74 trillion (US$14.48 billion).

“We had 15 IPOs throughout 2016, while Singapore lost 10 public companies and the Philippines lost one,” he said. (hwa)

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