The Indonesian Capital Market showed solid performance, resilience, and integrity throughout 2025, despite global monetary uncertainty, geopolitical tensions, and trade pressures (30/12). The Financial Services Authority (OJK) reported these results during the 2025 year-end closing at the Indonesia Stock Exchange.

“In various challenges, the Indonesian Capital Market has shown increasing resilience and competitiveness. These achievements are the result of hard work, synergy, and collaboration among all stakeholders in the capital market industry,” said Inarno Djajadi, Chief Executive of Capital Market, Derivatives, and Carbon Exchange Supervision at OJK.

IHSG and Market Capitalization Reach Record Levels

As of 19 December 2025, the Jakarta Composite Index (IHSG) grew 22.10% year-to-date, closing at 8,644.26, while market capitalization reached Rp15,810 trillion, up 28.16% ytd, exceeding national targets and the RPJMN plan. The market cap-to-GDP ratio stood at 71.41%. The Indonesia Composite Bond Index (ICBI) also rose 12.10% to 440.19.

Investment management recorded Rp1,039 trillion in funds under management, an increase of 24.16% ytd. Capital raised from public offerings totaled Rp268.14 trillion across 210 offerings, including 18 new stock issuers and 2 EBUS issuers, exceeding the Rp220 trillion target. Securities crowdfunding (SCF) accumulated Rp1.808 trillion from 968 issuers.

Youth Participation Drives Retail Investor Growth

Retail investor growth reached a new record with 5.34 million new Single Investor Identification (SID) accounts, bringing the total to 20.2 million. About 79% of investors are under 40 years old, highlighting youth participation and increasing inclusivity.

Carbon trading also expanded, with cumulative transactions from 26 September 2023 to 29 December 2025 totaling 1.6 million tons of CO2 equivalent, valued at Rp80.75 billion. The market involved 150 companies and offered 2.67 million tons of CO2 equivalent units.

OJK Maintains Market Integrity Through Oversight

Throughout 2025, OJK conducted 219 technical inspections and 155 special investigations into alleged violations, including 116 stock-related cases. Authorities imposed 120 administrative sanctions, 1,180 late-report fines, and 65 other sanctions, such as six license revocations, six written orders, and 329 written warnings. Total administrative fines reached Rp123.3 billion.

Regulatory Achievements and Strategic Plans for 2026

In 2025, OJK issued ten POJK and six SEOJK/PADK regulations, covering derivatives, equity dematerialization, and investment fund rating standards. The authority also published “Understanding Carbon Trading for Financial Services” on 15 July 2025 to support the green economy ecosystem.

Entering 2026, OJK sets four strategic priorities: deepening the market, enhancing market integrity, strengthening securities companies and investment managers, and expanding sustainable finance through carbon exchange participation. Collaboration with government, industry, and society remains central to promoting inclusive and sustainable economic growth.

PHOTO: OJK

This article was created with AI assistance.