Indonesian Stock Exchange targets 20,000 trln rupiah market capitalization by 2029

JAKARTA, Aug. 11 (Xinhua) -- The Indonesian Stock Exchange (IDX) has set a market capitalization target of 20,000 trillion rupiahs by 2029, with 1,200 firms listed on the bourse, President Director of IDX Iman Rachman said on Monday.

He noted that the market capitalization of IDX grew by almost 10 percent year-to-date as of Aug. 8, reaching 13,555 trillion rupiahs, compared to 12,300 trillion rupiahs last year.

"Our market capitalization is number 17 in the world," he told a press conference at the Indonesian Stock Exchange Building, adding that the IDX aims to rank among the world's top 10 in 2029-2030.

To achieve this target, the exchange will focus on three main initiatives: market deepening, investor protection, and regional synergy. These programs are designed to enhance liquidity, boost participation from both domestic and foreign investors, and strengthen Indonesia's position in the ASEAN region.

According to him, the exchange targets to have 1,200 firms listed by 2029, up from the current 943 companies. (1 U.S. dollar equals about 16,240 Indonesian rupiah) ■