Indonesian Stock Market Hits Record High Multiple Times in 2025

Historic Performance Milestones

The Indonesian Composite Stock Price Index (IHSG) has achieved an all-time high 22 times in 2025, marking a significant milestone in the country's financial markets. According to Iman Rachman, CEO of the Indonesia Stock Exchange (BEI), 21 of these record highs occurred during the tenure of Finance Minister Purbaya Yudhi Sadewa, while only one was recorded during Sri Mulyani Indrawati's leadership.

Breaking the 8,000 Barrier

The IHSG's performance has been particularly noteworthy as it has successfully breached the 8,000 level, continuing a steady upward trajectory that has recently seen it reach 8,600. This consistent growth has contributed to the numerous all-time highs recorded throughout the year. Iman Rachman noted that the breakthrough of the 8,000 level was a significant factor in the subsequent ATH records during Purbaya's era.

Market Leadership Comparison

The distribution of ATHs between different periods of financial leadership is particularly striking. While Purbaya's tenure has seen 21 ATHs, Sri Mulyani's period saw only one. This disparity has been highlighted by market participants as an indicator of market performance under different financial policy regimes. As Iman Rachman explained, "Sri Mulyani 1 kalinya, Pak Purbaya 21 kali karena tembus 8.000 zaman beliau, pak. Jadi, kalau kita bicara 8.000 and then setiap dua bulan ini naik terus, pak, sampai kemarin 8.600," during a parliamentary hearing.

Market Implications

The frequent achievement of all-time highs by the IHSG in 2025 reflects strong investor confidence and positive market sentiment. The continued upward momentum suggests a robust economic outlook, potentially influenced by favorable financial conditions and effective monetary policies. As the year progresses, market participants will be watching closely to see if this trend continues and what factors might drive further growth or potential corrections.