IDX
Encyclopedia
Indonesia Stock Exchange (IDX) or in Indonesian Bursa Efek Indonesia (BEI) is a stock exchange
based in Jakarta
, Indonesia
. It was previously known as Jakarta Stock Exchange
(JSX) before its name changed in 2007 after merging with Surabaya Stock Exchange
(SSX). As of 28 June 2010, the Indonesia Stock Exchange had 341 listed companies with a combined market capitalization of $269.9 billion. On May 23, 2011 the Indonesia Stock Exchange increasing the number of issuers at the exchange to 425.
On April 20, 2011 the Jakarta Composite Index
hits new record and closed at 3,794.76. Trading volume was about Rp.5.9 trillion ($0.68 billion) and the overall market capitalization up to Rp.3,384 trillion ($389 billion). In July 8, 2011 IDX Composite Index broke the psychological barrier of 4,000 and closed at the record of 4,003.69.
Currently opens from 9:30 a.m. to 4:00 p.m. local time, but since March 2011 has made rehearsal opens since 9:00 a.m. at the weekends when the bourse closed and will be fully implemented in the second half of 2011. The plan to open trading at either 9 a.m. or 8:30 a.m. with closing time will remain unchanged is to accommodate trading hours which fund managers setting strategies based on Singapore
and Hong Kong
stock exchange.
colonial
government, it was re-opened in 1977 after several closures during World War I
and World War II
. After being reopened in 1977, the exchange was under the management of the newly created Capital Market Supervisory Agency (Badan Pengawas Pasar Modal, or Bapepam), which answered to the Ministry of Finance. Trading activity and market capitalization
grew alongside the development of Indonesia's financial markets and private sector
- highlighted by a major bull run in 1990. On July 13, 1992, the exchange was privatized under the ownership of Jakarta Exchange Inc. As a result, the functions of Bapepam changed to become the Capital Market Supervisory Agency. On March 22, 1995 JSX launched the Jakarta Automated Trading System (JATS). In September 2007, Jakarta Stock Exchange and Surabaya Stock Exchange merged and named Indonesian Stock Exchange by Indonesian Minister of Finance. The current location of the Indonesian Stock Exchange is located in the IDX building in the Sudirman Central Business District, South Jakarta
, near the current site of the Pacific Place Jakarta
.
and the Jakarta Islamic Index
(JII). The JII was established in 2002 to act as a benchmark in measuring market activities based on Sharia
(Islamic law
). Currently, there are approximately 30 corporate stocks listed on the JII. The FTSE
/ASEAN Indices were launched by the five ASEAN exchanges (Singapore Exchange
, Bursa Malaysia
, The Stock Exchange of Thailand
, Jakarta Stock Exchange, and The Philippine Stock Exchange
) and global index provider FTSE on September 21, 2005. The indices, covering the five ASEAN markets, are designed using international standards, free float adjusted, and based on the Industry Classification Benchmark
(ICB). The indices comprise FTSE/ASEAN Benchmark Index and FTSE/ASEAN 40 tradable index. The FTSE/ASEAN 40 index is calculated on a real-time basis from 9:00 a.m. and the closing index is calculated at 6:00 p.m. (Singapore time). The FTSE/ASEAN benchmark index is calculated on end-of-day basis.
Besides Jakarta Composite Index and JII, IDX also has 4 more types of index, namely Individual Index, Sector Stock Price Index, LQ 45 Index
, Main Board and Development Board Indices.
At May 12, 2011 Indonesia Stock Exchnage officially launched a new Indonesia Sharia Stock Index (ISSI), which comprises 214 Indonesian stocks which have been screened by the Majelis Ulama Indonesia (Indonesia Ulema Council).
Fatwa Number 80 from Indonesia Ulema Council is expected to make public no longer have any doubt to make sharia investment in the capital market to eventually increase the number of the domestic investors in the Indonesia Stock Exchange.
In June 3, 2011 there are 344,279 local investors registered at the BEI Custodian (KSEI).
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
based in Jakarta
Jakarta
Jakarta is the capital and largest city of Indonesia. Officially known as the Special Capital Territory of Jakarta, it is located on the northwest coast of Java, has an area of , and a population of 9,580,000. Jakarta is the country's economic, cultural and political centre...
, Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
. It was previously known as Jakarta Stock Exchange
Jakarta Stock Exchange
Jakarta Stock Exchange or in Indonesian Bursa Efek Jakarta was a stock exchange based in Jakarta, Indonesia, before it merged with the Surabaya Stock Exchange to form the Indonesian Stock Exchange.-History:...
(JSX) before its name changed in 2007 after merging with Surabaya Stock Exchange
Surabaya Stock Exchange
Surabaya Stock Exchange or in Indonesian Bursa Efek Surabaya was officially opened on June 16, 1989 based on the Minister of Finance Decree of Indonesia No. 654/KMK.010/1989 with only thirty-six shareholders...
(SSX). As of 28 June 2010, the Indonesia Stock Exchange had 341 listed companies with a combined market capitalization of $269.9 billion. On May 23, 2011 the Indonesia Stock Exchange increasing the number of issuers at the exchange to 425.
On April 20, 2011 the Jakarta Composite Index
JSX Composite
The JSX Composite is an index of all stocks that trade on the Indonesia Stock Exchange .-Components:2005*Astra Agro Lestari Tbk PT*Astra Graphia Tbk PT...
hits new record and closed at 3,794.76. Trading volume was about Rp.5.9 trillion ($0.68 billion) and the overall market capitalization up to Rp.3,384 trillion ($389 billion). In July 8, 2011 IDX Composite Index broke the psychological barrier of 4,000 and closed at the record of 4,003.69.
Currently opens from 9:30 a.m. to 4:00 p.m. local time, but since March 2011 has made rehearsal opens since 9:00 a.m. at the weekends when the bourse closed and will be fully implemented in the second half of 2011. The plan to open trading at either 9 a.m. or 8:30 a.m. with closing time will remain unchanged is to accommodate trading hours which fund managers setting strategies based on Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
and Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
stock exchange.
History
Originally opened in 1912 under the DutchNetherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
colonial
Colonialism
Colonialism is the establishment, maintenance, acquisition and expansion of colonies in one territory by people from another territory. It is a process whereby the metropole claims sovereignty over the colony and the social structure, government, and economics of the colony are changed by...
government, it was re-opened in 1977 after several closures during World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
and World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
. After being reopened in 1977, the exchange was under the management of the newly created Capital Market Supervisory Agency (Badan Pengawas Pasar Modal, or Bapepam), which answered to the Ministry of Finance. Trading activity and market capitalization
Market capitalization
Market capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
grew alongside the development of Indonesia's financial markets and private sector
Private sector
In economics, the private sector is that part of the economy, sometimes referred to as the citizen sector, which is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the state...
- highlighted by a major bull run in 1990. On July 13, 1992, the exchange was privatized under the ownership of Jakarta Exchange Inc. As a result, the functions of Bapepam changed to become the Capital Market Supervisory Agency. On March 22, 1995 JSX launched the Jakarta Automated Trading System (JATS). In September 2007, Jakarta Stock Exchange and Surabaya Stock Exchange merged and named Indonesian Stock Exchange by Indonesian Minister of Finance. The current location of the Indonesian Stock Exchange is located in the IDX building in the Sudirman Central Business District, South Jakarta
South Jakarta
South Jakarta is a city within Jakarta Special District, Indonesia. It had a population of 2,057,080 at the 2010 Census, and is the third most populous among the five cities of Jakarta, after East Jakarta and West Jakarta...
, near the current site of the Pacific Place Jakarta
Pacific Place Jakarta
The Pacific Place Jakarta is an international shopping mall located in the Sudirman Central Business District, Jakarta Selatan, Indonesia. The building is divided into 3 different sections: the six-floor Pacific Place mall, the One Pacific Place office center, and the three tower The Ritz-Carlton...
.
Stock Indices
Two of the primary stock market indices used to measure and report value changes in representative stock groupings are the Jakarta Composite IndexJSX Composite
The JSX Composite is an index of all stocks that trade on the Indonesia Stock Exchange .-Components:2005*Astra Agro Lestari Tbk PT*Astra Graphia Tbk PT...
and the Jakarta Islamic Index
Jakarta Islamic Index
The Jakarta Islamic Index is a stock market index established on July 3, 2000 on the Indonesia Stock Exchange to help facilitate the trading of public companies according to Syariah business code...
(JII). The JII was established in 2002 to act as a benchmark in measuring market activities based on Sharia
Sharia
Sharia law, is the moral code and religious law of Islam. Sharia is derived from two primary sources of Islamic law: the precepts set forth in the Quran, and the example set by the Islamic prophet Muhammad in the Sunnah. Fiqh jurisprudence interprets and extends the application of sharia to...
(Islamic law
Sharia
Sharia law, is the moral code and religious law of Islam. Sharia is derived from two primary sources of Islamic law: the precepts set forth in the Quran, and the example set by the Islamic prophet Muhammad in the Sunnah. Fiqh jurisprudence interprets and extends the application of sharia to...
). Currently, there are approximately 30 corporate stocks listed on the JII. The FTSE
FTSE
FTSE may refer to:* The FTSE Group* Stock market indices published by the FTSE Group, particularly the FTSE 100 Index on the London Stock Exchange* The Fundamental theorem of software engineering...
/ASEAN Indices were launched by the five ASEAN exchanges (Singapore Exchange
Singapore Exchange
Singapore Exchange Limited is an investment holding company located in Singapore and providing different services related to securities and derivatives trading and others. SGX is a member of the World Federation of Exchanges and the Asian and Oceanian Stock Exchanges FederationSingapore Exchange...
, Bursa Malaysia
Bursa Malaysia
Bursa Malaysia is an exchange holding company approved under Section 15 of the Capital Markets and Services Act 2007. It operates a fully integrated exchange, offering the complete range of exchange-related services including trading, clearing, settlement and depository services.- History :Bursa...
, The Stock Exchange of Thailand
Stock Exchange of Thailand
The Stock Exchange of Thailand is the national stock exchange of Thailand. It is located in Bangkok. As of 31 December 2007, the Stock Exchange of Thailand had 541 listed companies with a combined market capitalization of $280 billion. The indices of the stock exchange are SET Index, SET50 Index...
, Jakarta Stock Exchange, and The Philippine Stock Exchange
Philippine Stock Exchange
The Philippine Stock Exchange is the national stock exchange of the Philippines. It is one of the oldest stock exchanges in Southeast Asia, having been in continuous operation since its inception in 1927...
) and global index provider FTSE on September 21, 2005. The indices, covering the five ASEAN markets, are designed using international standards, free float adjusted, and based on the Industry Classification Benchmark
Industry Classification Benchmark
The Industry Classification Benchmark is an industry classification taxonomy developed by Dow Jones and FTSE. It is used to segregate markets into sectors within the macroeconomy...
(ICB). The indices comprise FTSE/ASEAN Benchmark Index and FTSE/ASEAN 40 tradable index. The FTSE/ASEAN 40 index is calculated on a real-time basis from 9:00 a.m. and the closing index is calculated at 6:00 p.m. (Singapore time). The FTSE/ASEAN benchmark index is calculated on end-of-day basis.
Besides Jakarta Composite Index and JII, IDX also has 4 more types of index, namely Individual Index, Sector Stock Price Index, LQ 45 Index
LQ-45
LQ 45 is a stock market index for the Indonesia Stock Exchange . The LQ 45 index consists of 45 companies that fulfill certain criteria, which is:...
, Main Board and Development Board Indices.
At May 12, 2011 Indonesia Stock Exchnage officially launched a new Indonesia Sharia Stock Index (ISSI), which comprises 214 Indonesian stocks which have been screened by the Majelis Ulama Indonesia (Indonesia Ulema Council).
Fatwa Number 80 from Indonesia Ulema Council is expected to make public no longer have any doubt to make sharia investment in the capital market to eventually increase the number of the domestic investors in the Indonesia Stock Exchange.
Merger
Both Jakarta Stock Exchange (JSX) and the Surabaya Stock Exchange (SSX) merged to form a new entity "Indonesia Stock Exchange (Bursa Efek Indonesia). After the merger, the new entity will have seven directors.Figures
At end of 2010, the capitalization is Rp.3,100 trillion and 26 percent of it are 17 state-owned companies listed among 421 companies listed. The greatest company capitalization is also state-owned company: Telkom (Code: TLKM) with Rp.161.2 billion. 7 of 20 greatest amount of capitalization are also state-owned companies.In June 3, 2011 there are 344,279 local investors registered at the BEI Custodian (KSEI).
See also
- Jakarta Stock ExchangeJakarta Stock ExchangeJakarta Stock Exchange or in Indonesian Bursa Efek Jakarta was a stock exchange based in Jakarta, Indonesia, before it merged with the Surabaya Stock Exchange to form the Indonesian Stock Exchange.-History:...
(JSX) - Surabaya Stock ExchangeSurabaya Stock ExchangeSurabaya Stock Exchange or in Indonesian Bursa Efek Surabaya was officially opened on June 16, 1989 based on the Minister of Finance Decree of Indonesia No. 654/KMK.010/1989 with only thirty-six shareholders...
(SSX) - Jakarta Futures Exchange (JFX)
- JSX CompositeJSX CompositeThe JSX Composite is an index of all stocks that trade on the Indonesia Stock Exchange .-Components:2005*Astra Agro Lestari Tbk PT*Astra Graphia Tbk PT...
- Economy of IndonesiaEconomy of IndonesiaIndonesia is the largest economy in Southeast Asia and is one of the emerging market economies of the world. The country is also a member of G-20 major economies. It has a market economy in which the government plays a significant role by owning more than 164 enterprises and administers prices on...
- List of stock exchanges
- Telkom Indonesia
- LQ-45LQ-45LQ 45 is a stock market index for the Indonesia Stock Exchange . The LQ 45 index consists of 45 companies that fulfill certain criteria, which is:...
- MatahariMatahariMatahari is a major department store chain in Indonesia. Matahari is operated by PT. Matahari Department Store, Tbk. , a subsidiary of PT. Matahari Putra Prima, Tbk. , a publicly traded company. It has the biggest coverage in Indonesia and has a store in almost every mall and plaza in Indonesia.In...