2009 Stock Market

Elections Coming Up, Stock Traders Optimistic

VIVAnews – Stock market players are still quite optimistic that the country’s capital market in 2009 will be much better. Even though the general elections are soon to come, at least the stock exchange market will be much better compared to the second semester in 2008.

“I’m not talking about targets, but in general I’m still optimistic with the capital market condition,” said capital market observer Felix Sindhunata in his short message to VIVAnews.

Sindhunata admitted that the market condition was indeed very weak in 2008, marked by estimation that the economic growth tended to slow down despite being relatively high. "The most important thing for investors at this time is accurate timing," he said.

The same sentiment was expressed by Vice President Senior Economist of PT Bank Negara Indonesia Tbk (BNI), Ryan Kiryanto in Eximbank Media Workshop in Bogor.

According to Kiryanto, analyses by a number of foreign observers that the national capital market prospects in 2009 will be disturbed by the general elections are not accurate. “They don’t understand that elections in Indonesia in fact stimulate growth in the real sector and small, micro, and medium businesses,” he said.

Kiryanto believes that the public companies engaged in consumption products, printing, and sectors related to elections activities will generate quite significant revenue in 2009.

For example, Kiryanto pointed out to the IDX index in 2004 during the general elections. Some investors were worried about the impact on the national economy. But in fact such worries were unfounded, instead the index closed strengthened during that year.

At the close of stock exchange trading in Indonesia in 2004, the index closed at 1,000.23. The annual cumulative index jumped 44.5 percent from 691.90 at the end of 2003. This means that the IDX composite index had the best performance compared to other major stock markets in the world. In fact it was the highest in Asia.


Translated by: Ramona Sofianne Dewi Sasradipoera

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29 Maret 2024