REPUBLIKA.CO.ID, JAKARTA -- The Indonesian Stock Exchange (BEI) is set to become Southeast Asia's leading stock exchange in 2016-2020.

"Our hope is certainly that the master plan 2016-2020 would come to reality with BEI the leading stock exchange in Southeast Asia," chief of the North Sulawesi BEI office Fonny The said here on Friday.

Fonny said intensive socialization and education by BEI and the Financial Service Authority (OJK) would contribute to bringing the ambition to reality.

"We are thinking not dreaming . Given the progress made so far it is not an ambition not beyond our reach," she said.

She said all Indonesians including the people of North Sulawesi could benefit from the operation of BEI by investing in it.

She said the performance of BEI as recorded until December, 2016 had been impressive overshooting the target, and the trend continued in 2017.

The market capitalization of BEI reached Rp6.382 trillion by August 8, 2017 after peaking at Rp6.459 trillion on July 3, 2017.

Fonny said the BEI's daily transactions averaged Rp7.44 trillion with the frequency of transaction averaging 312,936 times worth around Rp12.6 billion a day or the highest in its history.

This year, the composite share price index (IHSG) of BEI peaked at 5,910.237 points on July 3 . The index grew 9.96 percent year to date this year and it is expected to exceed last year's record of 15 percent.

It should be noted that in the past 10 years the Indonesian Stock Exchange has been the best performing market with yield 223.50 percent putting behind all other major markets in this region.

Currently there are around 586,000 investors in Indonesia and 196,000 or 33 percent of them are active in transactions.

Meanwhile, the BEI index opened 13.70 points lower on Friday on negative regional sentiment triggered by mounting tension in the Korean peninsula.

The index dropped 0.24 percent to 5,812.24 points with index of 45 most liquid stocks down 0.36 percent to 964.39 points.

Vice President of Research and Analysis of Valbury Asia Securities Nico Omer Jonckheere said geopolitical uncertainty in the Korean peninsula triggered worries in the stock market with negative global impact.

There was also negative sentiment internally with report of shortfall in tax collection until July, 2017. Tax revenues reached only 46.8 percent or Rp601.1 trillion of the target of Rp1,283.6 trillion set in the 2017 state budget. 

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