IDX Market Cap Hits Record Rp 14,013 Trillion, Eyeing Top 10 Global Stock Exchanges

Indonesia’s capital market is riding a wave of euphoria. The market capitalization of the Indonesia Stock Exchange Composite Index (IHSG) has set a new record, reflecting growing optimism among investors. This impressive performance not only solidifies IDX’s position as the leading exchange in Southeast Asia but also opens the door to joining the world’s top 10 stock exchanges within the next five years.

On August 12, 2025, IHSG’s market cap reached Rp 14,013 trillion (approximately US$ 860 billion), surpassing the previous day’s record of Rp 13,703 trillion. This surge coincided with a strong inflow of foreign funds, recording a net buy of nearly Rp 3.6 trillion over the past week.

IDX President Director, Iman Rachman, shared that when the market capitalization hit Rp 13,701 trillion on July 29, 2025, IDX had already secured the 17th spot globally. He is confident that by 2029–2030, Indonesia’s stock market capitalization can enter the ranks of the world’s top 10.

IDX is targeting a market cap of Rp 20,000 trillion by 2029, supported by 1,200 listed companies and an increase in daily trading value to Rp 20 trillion. Currently, IDX holds the largest market capitalization in ASEAN, outperforming Singapore, Thailand, and Vietnam.

The potential for IHSG to continue its rally remains strong, especially ahead of President Prabowo Subianto’s speech on August 16. Analysts forecast the index could break past the 8,000 level, which would mark a major achievement for the government. Hans Kwee, Co-Founder of Pasardana, noted that IHSG would only need to gain around 200 points in the next three trading days to reach this milestone. However, he also cautioned about potential profit-taking that could limit further gains.

Hans added that the current upward momentum is largely driven by stocks from two major conglomerate groups — Prajogo Pangestu Group and Salim Group. Both are benefiting from positive sentiment after their shares were included in the MSCI index, sparking speculation that other companies might follow the same path.

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The surge in IHSG’s market capitalization is solid proof of Indonesia’s appeal in the eyes of global investors. With ambitious targets and strong fundamentals, the journey toward becoming one of the world’s top 10 stock exchanges is increasingly within reach.

Satra Sinar Abadi Group