Monday, 17 August 2009

Indonesia Emerges as Asia's Third Best-Performing Market on 67% Advance

The Jakarta Composite Index’s 67 percent gain this year makes the Indonesia Stock Exchange, which is celebrating its 32nd anniversary this week, the third best-performing bourse in Asia, the capital market watchdog said on Wednesday.
Two Chinese bourses, the Shenzhen and Shanghai markets, ranked first and second with gains of 93 percent and 74 percent, respectively, according to Bloomberg. The Taiwanese and Philippine markets ranked fourth and fifth in the region this year, gaining 47 percent and 45 percent, respectively. “Our market capitalization increased from Rp 1,143 trillion [$115.4 billion] on Jan. 5 to Rp 1,882 trillion on Aug. 11,” Fuad Rahmany, chairman of the Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK), said on Wednesday during a press briefing marking the anniversary of the Jakarta exchange, or IDX. He said gains in the index and the increased market capitalization underscored the revival of investor confidence since last year’s crash. Fuad said stock transactions totaled Rp 596 trillion from Jan. 5 to Aug. 11, with Rp 3.9 trillion in average daily transactions. The average daily trading frequency rose 44 percent to 85,000 daily transactions this year, while average trading volume rose 94 percent to 3.3 billion shares. The increase in trading volume and frequency was supported by the increase in the number of retail investors who traded stocks online.
Source: The Jakarta Globe, p.B2, 12 August 09

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