In a virtual press conference, Inarno Djajadi, the Head of Executive for Capital Market Supervision, Derivative Financial, and Carbon Exchange at the Financial Services Authority (OJK), expressed optimism regarding the expansive growth prospects of Indonesia's capital market. As of December 29, 2023, the Indonesian stock market demonstrated a robust performance, witnessing a 2.71% month-to-date increase, reaching 7,272.8 compared to November 2023's 7,080.74. Non-resident investors recorded a net sale of IDR 6.19 trillion year-to-date, a notable decrease from November 2023's IDR 13.86 trillion. The Index Harga Saham Gabungan (IHSG) secured the second-highest performance among Association of Southeast Asian Nations (ASEAN) stock exchanges, growing by 6.16% year-to-date. The market capitalization reached IDR 11,674 trillion, marking a substantial 22.90% year-to-date growth. Liquidity transactions in the stock market also saw an improvement, with the average daily transaction value rising to IDR 10.75 trillion year-to-date in December 2023, compared to IDR 10.54 trillion year-to-date in November 2023. The IHSG's success was further supported by a double-digit increase of 18.04% in the number of capital market investors, reaching 12.17 million.
In the bond market, foreign investors contributed an inflow of IDR 8.17 trillion month-to-date by December 29, 2023, leading to a decrease in the average yield of National Bonds (SBN) by 13.30 basis points month-to-date across all tenors. The Indonesia Composite Bond Index (ICBI) exhibited an 8.65% year-to-date growth to 374.61 by December 29, 2023. In corporate bond markets, non-resident investors recorded an inflow of IDR 541.83 billion month-to-date, while year-to-date figures indicated an outflow of IDR 0.92 trillion. In the investment management industry, the Assets Under Management (AUM) amounted to IDR 824.73 trillion by December 29, 2023, with Net Asset Value (NAB) of mutual funds reaching IDR 501.46 trillion, reflecting a 1.77% month-to-date increase. Mutual fund investors registered a net subscription of IDR 6.31 trillion month-to-date and maintained stability in the year-to-date performance with a 0.67% decrease in NAB and a net subscription of IDR 8.98 trillion. Overall, the capital market exhibited strong fundraising, accumulating IDR 255.39 trillion, with 83 new issuers recorded by December 29, 2023, surpassing the 2023 target of IDR 200 trillion. Furthermore, the public offering pipeline includes 85 upcoming offerings with an estimated indicative value of IDR 28.68 trillion, including Initial Public Offerings (IPOs) by 60 new companies. Securities Crowdfunding (SCF), an alternative financing option for SMEs, witnessed 16 licensed providers by OJK, involving 494 issuers, 168,000 investors, and total funds raised exceeding IDR 1 trillion by December 29, 2023.
