Flooring Guide by Cinvex JAKARTA – The Jakarta Composite Index (IHSG) has successfully achieved new all-time high (ATH) closing records for two consecutive trading days. This robust performance in the Indonesian stock market was predominantly fueled by domestic investors, aligning perfectly with the nation’s solid economic growth recorded in the third quarter of 2025.
On Thursday, November 6th, the IHSG closed at a new ATH of 8,337, marking a 0.22% increase. During this trading session, domestic investors accounted for 71% of market activity, while foreign investors made up the remaining 29%. Correspondingly, foreign investors registered a net sell of Rp114.96 billion for the day.
The following day, Friday, November 7th, the IHSG continued its ascent, closing at its second consecutive ATH. The index surged by 0.69%, or 57.53 points, to reach 8,394.59. This session also saw significant domestic investor participation, representing 72% of trades, with foreign investors contributing 28%. Notably, foreign investors recorded a net buy of Rp920.24 billion on this particular day. However, their year-to-date (YTD) position still reflects a substantial net sell of Rp38.33 trillion.
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M. Nafan Aji Gusta, a Senior Market Analyst at Mirae Asset Sekuritas, emphasized that the pivotal role played by domestic investors in propelling the composite index to these new records is directly aligned with Indonesia’s robust economic growth.
“The phenomenon of domestic investors becoming the backbone of the stock market is what enabled our IHSG to reach 8,390,” Nafan told Bisnis, as quoted on Saturday, November 7th, 2025. He further elaborated, “This is primarily due to our strong GDP performance, which has exceeded expectations.”
IHSG – TradingView
Reinforcing this economic optimism, Statistics Indonesia (BPS) reported that Indonesia’s economic growth for the third quarter of 2025 reached 5.04% year-on-year (YoY). This figure marks a noticeable improvement compared to the 4.95% YoY GDP growth observed in the third quarter of 2024.
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Beyond macroeconomic factors, Nafan added that the IHSG’s strengthening trend also signals investors’ appreciation for the robust third-quarter 2025 financial reports from various issuers, alongside several corporate actions expected to unfold throughout the remainder of 2025.
Despite these positive domestic developments, Nafan cautioned that the market still navigates various global scenarios. These include the ongoing US government shutdown, the anticipated shift in the Federal Reserve’s monetary easing policy — potentially moving from December 2025 to January 2026 — and the persistent risks of geopolitical escalation and tariff wars.
Reflecting the increasing dominance of domestic investors in the stock market, the Indonesia Stock Exchange (BEI) reported a significant milestone: by the end of October 2025, the total number of capital market investors in Indonesia reached 19,154,487 Single Investor Identifications (SID).
Of this total, new capital market investors in 2025 accounted for 4,282,848 SIDs, marking a substantial 58.4% increase compared to the 2,703,578 new investors added in 2024.
Focusing specifically on the stock market, the number of investors reached 8,083,076 SIDs. This included a remarkable growth of 1,701,632 new stock investors throughout 2025, representing a 51.2% surge compared to the 1,125,873 new stock investors recorded in 2024.
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Summary
The Jakarta Composite Index (IHSG) achieved new all-time high closing records for two consecutive trading days, reaching 8,337 on November 6th and 8,394.59 on November 7th. This robust performance was primarily driven by domestic investors, who accounted for over 70% of market activity during these sessions. Although foreign investors registered a net buy on one day, their year-to-date position still reflects a substantial net sell of Rp38.33 trillion.
Analysts attribute the IHSG’s record highs to Indonesia’s strong economic growth, with Q3 2025 GDP reaching 5.04% year-on-year, and positive corporate financial reports. The capital market has seen significant growth in domestic investors, totaling over 19.1 million by October 2025. Despite these domestic strengths, global factors such as the US government shutdown and potential shifts in Federal Reserve policy pose ongoing market risks.