Bisnis, JAKARTA — The upward trend observed in the Composite Stock Price Index (IHSG) throughout November 2023 suggests a signal indicating the potential for year-end window dressing in the stock market.

According to data from the Indonesia Stock Exchange (IDX), the IHSG recorded a 3.34% strengthening during the period from 1 to 17 November 2023, reaching 6,977.66 in trading towards the end of last week.

On a year-to-date (YtD) basis, the composite index entered green territory with an appreciation of 1.85%. This performance outperformed other top benchmark indices, with the LQ45 and IDX30 still experiencing corrections of 2.11% and a decline of 2.84% YtD, respectively.

President Director of Kiwoom Securities ChangKun Shin believes that window dressing still has the potential to occur at the end of this year. According to him, the sentiment for window dressing arises from the continued strengthening of the rupiah alongside the release of improving economic data.