Waiting for High IPO Interest Impact to Surge Stock Transactions

The capital market authorities hang their hopes up high for an increase in daily stock transactions on the Exchange, driven by a wave of upcoming initial public offerings (IPOs).

Iim Fathimah Timorria & Duwi Setiya Ariyanti

30 Jun 2023 - 13.59
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Waiting for High IPO Interest Impact to Surge Stock Transactions

5. An employee works with her cell phone at the Indonesia Stock Exchange (IDX) office. Bisnis/Arief Hermawan P

Bisnis, JAKARTA   —  The capital market authorities hang their hopes up high for an increase in daily stock transactions on the Exchange, driven by a wave of upcoming initial public offerings (IPOs). This is expected to bring a turnaround to the relatively quiet market conditions observed at the start of the year.

The Indonesia Stock Exchange (IDX) has reported that the average daily transaction value (RNTH) in 2023 fell short of the target of IDR 14.75 trillion. As of June 27, 2023, the transaction value stood at IDR 10.34 trillion, even lower than the previous year's figure of IDR 14.7 trillion.

Iman Rachman, President Director of IDX, attributed the decline in RNTH to a broader trend observed in many countries. As of May 31, 2023, RNTH on the Indonesian stock exchange had decreased by 29% compared to the previous year. Similar downward trends were observed in other Asian exchanges, including Malaysia with a 5.69% decline, Singapore 11.29%, and Thailand 17.25%.

Iman noted that the 2023 target was initially set with optimism, expecting increased investor euphoria ahead of the 2024 General Election. He emphasized the strong connection between politics and market euphoria this year during a press conference at the IDX Annual General Meeting of Shareholders (AGMS) on Wednesday (28/6).

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Aprilian Hermawan
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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.