TEMPO.CO, Jakarta - President Prabowo Subianto will meet capital market investors after 2025 Eid al-Fitr, the deputy house speaker Sufmi Dasco Ahmad confirmed on Monday, March 31, 2025.
"The meeting with investors has been planned and will take place after Eid,” Dasco said in Jatinegara, East Jakarta on Monday, March 31, 2025.
Dasco also spoke about the recent stumble suffered by the Indonesia Composite Index (IHSG), expressing confidence that it will surge again after the Eid al-Fitr holiday. "I’m positive (IHSG) will rise again,” he said.
Chairperson of the National Economic Council Luhut Binsar Pandjaitan previously revealed Prabowo's plan to meet with investors after the IHSG plummeted by 3.84 percent to 6,223.39 in mid-March.
Luhut said at the time that the meeting will be arranged by Cabinet Secretary Teddy Indra Wijaya.
Prior to the Eid holiday, the IDX saw a unique pre-Eid trend compared to the past two years. According to capital market analyst Kiwoom Sekuritas Oktavianus Audi, significant foreign pressure, weakened purchasing power, and increasing global economic risks are the main factors shaping the current market dynamics.
"We see that the Eid momentum this year has a different sentiment compared to the past two years," Audi said when contacted on Saturday, March 29, 2025.
He highlighted several main factors, such as the foreign outflow throughout the first quarter of 2025 reaching Rp29.9 trillion, deflation in February putting pressure on purchasing power, and increasing economic risks due to rupiah depreciation and global policy uncertainty.
In this condition, stocks that experienced volume spikes or became targets for purchase came from the banking, technology, and retail sectors, especially those that were under pressure throughout 2025.
"In the last month, the highest addition of investors occurred in blue-chip stocks such as BMRI with 30.9 thousand new investors, BBCA with 29.6 thousand, and BBRI with 21 thousand. Meanwhile, in the retail sector, AMRT stocks recorded the highest addition of retail investors, which is 4.5 thousand," he said.
Audi assessed that the increase in stock prices and the surge in the number of investors were triggered by three main factors. "Market valuation that is currently discounted, dividend distribution, and positive performance until February 2025, particularly in the banking sector, are the main drivers," he said.
However, he also warned of potential post-Eid al-Fitr corrections, referring to historical trends in the past four years. "Looking at previous patterns, IHSG tends to experience corrections after Eid al-Fitr. In 2024, IHSG fell by 3.64 percent in the following month, while in 2023 it fell by 4.08 percent," he said. According to him, the main factor behind this trend is the limited information during the stock market holiday and increasing market volatility.
Dinda Shabrina contributed to the writing of this article.
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