OJK Chief Says JCI Now at Attractive Level, Here's Why

The Chairman of the Board of Commissioners of the Financial Services Authority (OJK), Friderica Widyasari Dewi, also known as Kiki, believes that the Jakarta Composite Index (JCI) is currently at an attractive level, supported by lower valuations compared to historical periods and regional markets, as well as improved issuer performance.

During a working meeting with Commission XI, Kiki noted that the movement of the JCI is becoming increasingly convergent with global benchmark indices published by MSCI and FTSE Russell.

According to her, this condition indicates that the market is beginning to respond positively to various reform measures implemented by regulators in the capital market. This is particularly true in addressing key issues of concern to stakeholders, including global index providers.

Furthermore, issuer performance in the first quarter of 2026 has shown a positive trend. Improvements in corporate revenue and profitability are considered to provide fundamental support for the future prospects of the domestic stock market.

Kiki also stated that the structure of the Indonesian capital market continues to demonstrate strong resilience, supported by a growing domestic investor base, particularly retail investors.

The number of capital market investors increased from 12.17 million in 2023 to 26.49 million as of April 2026. Of this total, individual investors dominate with 26.43 million investors, significantly larger than corporate or mutual fund investors.

However, Kiki reminded that there is still vast room for market deepening. This is because the number of daily active investors only reached approximately 448,000, or equivalent to 1.69 per cent of the total investors as of April 202<0xC2>6.

Looking ahead, she ensured that the OJK will continue to strengthen investor literacy and protection, maintain market integrity, and deepen the development of capital market products.

These steps are being taken to ensure that the growth in the number of investors is not merely quantitative, but also serves as a foundation for a healthier, more inclusive, and sustainable national capital market.