IHSG: Thank You “Bandar Besar” for 2024

Key Summary:
- IHSG is driven by conglomerate stocks this year
- 2024 net foreign flow is slowing but still positive
- Watch stimulus and commodity in 2025
The Indonesian stock market is set to close the year on a positive note, with IHSG currently up +4% this month, in line with December seasonality, and +1.3% for 2024.
Back in November, we successfully called buy the dip (read here) around 7,000 as we identified an opportunity amidst market's overwhelming bearishness, which we believed was overdone.