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Story summary
- The Jakarta Stock Exchange Composite Index (JCI) rose 22% in 2025, its best in 11 years.
- The gain was driven by local retail investors, even as foreign fund outflows totaled $1 billion.
- Retail participation grew five-fold to over 20 million investors, spurred by low bond yields.
- Analysts expect ongoing support for equities from higher loan growth and increased domestic institutional investment, with the index seen at 11,000 next year and a 27% gain.
