Indonesia’s stock market experienced a significant upswing last week, with its market value surging by Rp409 trillion ($22.7 billion). This boost was primarily fueled by robust performance in major banking stocks. The Jakarta Composite Index (JCI) registered a 4.24% increase, closing at 6,175.5. Meanwhile, the total market capitalization of the Indonesia Stock Exchange rose to Rp10,749 trillion ($598.2 billion).
Leading the charge were prominent banks such as Bank Mandiri, Bank Central Asia, and Bank Rakyat Indonesia, whose stock price hikes were pivotal in propelling the benchmark index upwards. Other influential companies like Telkom Indonesia, Astra International, and Amman Mineral Internasional also contributed to the market’s positive movement.
The week witnessed a notable surge in trading activity, with the average daily trading value climbing by more than 36%. Among the individual stocks, Asia Sejahtera Mina (AGAR) emerged as a standout performer, skyrocketing over 138%. Additionally, stocks such as Prodia Diagnostic Line, First Media, and Multipolar Technology saw substantial gains.