The Indonesian stock market showed signs of recovery on Monday, November 17, 2025, following a brief pause in its recent rally. The Jakarta Composite Index (JCI) had snapped a three-day winning streak earlier in the week, but market analysts anticipate renewed support, with the index hovering just above the 8,390-point level. This rebound comes amid strong foreign investor interest, with foreign entities recording nearly Rp 13 trillion in net buying over the past month after months of outflows.
- The JCI closed at 8,370 points on November 14, 2025, marking a slight 0.02% decline from the previous session, though it has gained 3.97% over the past month and 16.89% compared to the same period last year.
- Foreign investment has been a key driver, with net foreign buying reaching nearly Rp 13 trillion in the last month, signaling renewed confidence in the market.
- The healthcare sector led gains, rising 12% over the past week, while the broader market has posted a 23% increase year-to-date.
- Analysts have raised price targets for major firms like Telekomunikasi Indonesia (TLKM), citing improved revenue and profit margin forecasts.
- PT Semen Indonesia (SMGR) is seen as a potential outperformer, with a moderate bullish outlook and a projected 10-15% upside within three months.
- The market is currently trading at a price-to-earnings (PE) ratio of 24.3x, above its three-year average of 19.3x, reflecting investor optimism despite flat earnings over the past three years.
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