MARKET WATCH · INDONESIA STOCK EXCHANGE

Indonesia Market Watch

From our base in Jakarta, we track the Indonesia Stock Exchange (IDX) on an ongoing basis — index levels, major listed companies, and the market structure as we see it on the ground.

INDEX

Index and key quotes

IHSG (Jakarta Composite Index), LQ45 (the 45 most liquid names), and companies at the top of the market by capitalisation. Quotes may be delayed.

COMPOSITE INDEX

IHSG performance

Movement of the Jakarta Composite Index (Indeks Harga Saham Gabungan). The time range can be changed.

LISTED COMPANIES

Major listed companies by sector

Companies selected by market capitalisation and liquidity, grouped by sector. This selection is intended to give an overview of the market and is not a recommendation.

PERSPECTIVE

What defines this market, seen from the ground

The structure behind the numbers, drawn from our practical experience in Jakarta.

DIVIDEND

Dividend yields run high

Yields of 5–11% on major names are not unusual. State-owned enterprises in particular tend to maintain high payout ratios, because the government counts those dividends as fiscal revenue. That said, a high yield is sometimes the arithmetic result of a falling share price.

STATE-OWNED

The weight of state-owned enterprises

Many of the largest banks, telecoms, energy and mining companies are state-owned. This brings stability, but policy lending obligations and shifts in government direction feed straight through to earnings. For a Japanese company assessing a partner here, that distance from government is something to examine carefully.

COMMODITY CYCLE

Tied to commodity cycles

Coal, palm oil and nickel move a large share of the market's earnings. Between 2023 and 2026, dividends from coal-related companies contracted sharply. Reading historical figures without understanding that swing will lead you to misjudge the market.

LIQUIDITY

Liquidity varies enormously

More than 900 companies are listed, but meaningful daily turnover occurs in only a fraction of them. Many names carry a large market capitalisation yet trade very little — at certain investment sizes they are effectively unbuyable. This matters for valuation work as much as for investment.

About this page

This page is provided for information about conditions in the Indonesian market. It does not recommend the purchase or sale of any security and does not constitute investment advice. Investment decisions are your own responsibility.

Price and index data are provided through TradingView and may be delayed relative to exchange feeds. Please refer to your broker's information before trading.

The companies shown were selected by market capitalisation and liquidity to give an overview of the market. Their inclusion does not indicate holdings of our company or its officers and staff.

CONTACT

Let's talk about the Indonesian market

We advise on partnerships with listed companies, M&A, and market entry — connecting Japanese corporates and financial institutions with Indonesian companies and opportunities we have screened through credit and due diligence review.