Jakarta Composite Index Sets Multiple Records Following Government Leadership Change

Significant Market Performance Shift

The Jakarta Composite Index (JCI) has achieved six all-time highs in less than three months since Purbaya Yudhi Sadewa took office as Minister of Finance. This remarkable performance contrasts sharply with the single record high observed during the first nine months of 2025. According to Iman Rachman, President Director of the Indonesia Stock Exchange (IDX), this surge in record-breaking levels indicates growing market confidence in the new government's economic policies.

Historical Market Performance Comparison

The recent market performance shows a significant change in trend. Prior to Purbaya's appointment, the JCI had only reached a record high once between January and September 2025. However, since his inauguration, the index has broken records six times, culminating in a peak of 8,274 on October 23, 2025. This represents a substantial increase in market activity and investor optimism.

Market Reaction to Government Policies

Iman Rachman highlighted that the frequency of these record highs is statistically significant and reflects positive market sentiment towards the government's economic agenda. The market's reaction suggests that investors are responding favorably to the new leadership and its policy direction. The IDX chief's observations were made during the Economic Outlook event held at Ritz-Carlton Mega Kuningan, South Jakarta, on November 5, 2025.