October 23, 2025 | 09:09 pm
TEMPO.CO, Jakarta - The Indonesia Composite Index (IHSG) of the Indonesia Stock Exchange (IDX) closed higher on Thursday afternoon, in line with positive sentiments from domestic economic policies and data.
The IHSG closed up by 121.80 points or 1.49 percent to the level of 8,274.35, while the 45 leading stocks or LQ45 index climbed 21.80 points or 2.70 percent to 828.10.
"The IHSG is expected to continue its upward trend, testing the psychological level at 8,300. However, there is a need to be cautious of potential short-term pullbacks due to profit-taking at the end of the week," said Ratna Lim, Head of Research at Phintraco Sekuritas, in her analysis in Jakarta on Thursday, October 23, 2025, as quoted from Antara.
From domestic sources, Ratna stated that positive sentiments, among others, stemmed from Danantara Indonesia's plan to establish a new asset management company resulting from the merger of the subsidiary entities of BBRI, BMRI, and BBNI, which are engaged in asset management and are estimated to have managed funds of around US$8 billion if merged.
The corporate action is estimated to be completed in the first quarter of 2026, but considerations are still ongoing, and therefore, there is no final decision regarding the plan yet.
From the economic data, Bank Indonesia reported that bank credit grew by 7.70 percent year on year (yoy) in September 2025, slightly higher than the 7.56 percent in August, mainly driven by a 15.18 percent increase in investment credit (yoy), and working capital and consumer credit each increased by 3.37 percent (yoy) and 7.42 percent (yoy) respectively.
Furthermore, the broad money supply (M2) in September 2025 increased by 8 percent (yoy) to Rp9,771.3 trillion, higher than the 7.6 percent growth (yoy) in August 2025.
Meanwhile, the Bank Indonesia (BI) Board of Governors Meeting from October 21 to 22, 2025, decided to maintain the interest rate (BI Rate) at 4.75 percent (deposit facility 3.75 percent, lending facility 5.50 percent).
From Europe, data on UK retail sales for September, which is expected to decrease by 0.2 percent month on month (mtm) from a growth of 0.5 percent (mtm) in August 2025, and Germany's HCOB Manufacturing PMI Flash for October 2025, which is expected to remain steady at 49.5, will be released.
From the United States, data on inflation for September 2025, the release of S&P Global Composite PMI Flash for October 2025, and the Michigan Consumer Sentiment Index Final for October 2025 are scheduled to be released.
Opening higher, the IHSG remained in positive territory until the close of the first stock trading session. In the second session, the IHSG remained in the green until the stock trading closure.
According to the IDX-IC Sectoral Index, all eleven sectors strengthened. The property sector led the way with a 3.70 percent increase. The transportation and logistics sector and the primary consumer goods sector followed with increases of 2.13 and 2.00 percent, respectively.
The stocks that experienced the greatest gains were CITY, ZATA, CLAY, FAST, and TEBE. Meanwhile, the stocks that experienced the greatest declines were DWGL, WAPO, SSTM, AKSI, and STAA.
The stock trading frequency was recorded at 2,400,872 transactions, with a total of 31.26 billion shares traded worth Rp21.02 trillion. There were 405 gainers, 254 losers, and 152 unchanged stocks.
In the regional stock exchanges, the Asian regional indices this afternoon include a 640.79-point or 1.30 percent decrease in the Nikkei Index to 48,667.00, an 8.65-point or 0.22 percent increase in the Shanghai Index to 3,922.41, a 186.21-point or 0.72 percent increase in the Hang Seng Index to 25,967.98, and an 18.99-point or 0.43 percent increase in the Straits Times Index to 4,412.91.
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