VIVAnews – The Indonesian Stock Exchange (IDX) hopes that the portion of domestic investors compared to foreign investors in the capital market industry in 2009 will increase to 65 percent from 50 percent in 2008.
To increase in the role of domestic investors, the stock exchange authorities will attempt to reduce dependency of the composite stock price index (IHSG) on foreign investment.
"We will focus on domestic investors. IDX is hoping that domestic investors in the country would be strong," said President Director of Indonesian Stock Exchange, Erry Firmasyah.
Firmansyah added that the fall in the 2008 IDX index was triggered more by investment withdrawal by foreign investors in order to meet the funding demands of their own countries. This could actually be dealt with by increasing domestic investors’ confidence in the domestic capital market to prevent them from also withdrawing their investment from the capital market.
With regard to 2009 projection, Firmansyah is still optimistic that the capital market industry will improve compared to 2008. In addition to increasing the role of domestic investors, IDX is also planning several new regulations that are expected to be completed by April 2009.
According to Firmansyah, the new regulations can improve the performance of stock exchange members. "We will also complete the project of updating the trading system, issue new derivative products more selectively, as well as improve the quality of human resources,” he said.
In 2009 the Indonesian Stock Exchange is targeting an average daily transaction of Rp 2.75 trillion (US$ 251.5 million)
Translated by: Ramona Sofianne Dewi Sasradipoera
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