RRI.CO.ID, Jakarta: The Jakarta Composite Index (JCI) rebounded 88.35 points or 1.06 percent to 8,232.20 at the trade closing on Thursday, January 29, 2025, while the LQ45 index, a group of 45 leading stocks, rose 0.47 points or 0.06 percent to 813.01.
Positive market sentiment towards the authorities' policies following Morgan Stanley Capital International (MSCI)'s announcement triggered the JCI's recovery after the trading halt.
“After reopening, the JCI weakened further, then bargain hunting occurred, reducing the JCI’s decline,” Phintraco Sekuritas’ Head of Research, Ratna Lim, said in her review in Jakarta on Thursday, January 29, as quoted by Antara.
The Indonesia Stock Exchange (IDX) and the Financial Services Authority (OJK) will revise the free float rule from 7.5 percent to 15 percent in February 2026, in response to MSCI's announcement.
The free float rule will be applied to both new and existing listed companies. If issuers fail to meet this requirement, an exit policy would be enforced, although the specific policy has not yet been determined.
The IDX, together with the Self-Regulatory Organization (SRO), would coordinate and submit the proposals required by MSCI. The collaboration would focus specifically on meeting the demand for transparency regarding the free float of shares circulating in the Indonesian market.
In addition, the OJK announced that the government plans to issue regulations related to IDX demutualization in the first quarter of 2026 (Q1-2026). The OJK also intends to provide Ultimate Beneficial Owner (UBO) data to MSCI, with an initial focus on IDX100 constituents.
From the IDX-IC Sectoral Index, only the transportation & logistics sector strengthened (0.36 percent), while ten sectors weakened. The most profound decline was experienced by the non-primary consumer goods sector (4.78 percent), followed by health (3.82 percent) and property (3.65 percent).
The stocks that posted the most significant gains were KIOS, ELIT, CUAN, FORE, and MEDS. Meanwhile, the stocks that experienced the biggest declines were GOLF, BUMI, VKTR, EXCL, and BUVA.
The stock trading frequency totaled 4,934,519 transactions, with a total of 99.10 billion shares traded, worth IDR 68.17 trillion (USD 4.06 billion). A total of 214 stocks rose, 521 stocks fell, and 73 remained stagnant. ***
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