STOCK PRICE INDEX
Stock price index is an indicator or reflection stock price movements . Index is one of the guidelines for investors to invest in the stock market , especially the stock .
Currently Indonesia Stock Exchange has 11 kinds of stock price index , which is continuously disseminated through print and electronic media .
Such indexes are :
- Composite Stock Price Index ( CSPI )
Using all the components of the calculation of Listed Companies Index . JCI in order to describe the state of a fair market , the Indonesia Stock Exchange and is authorized to issue or not to enter one or several of the Listed Company CSPI calculations . Basic considerations include , if the amount of the Listed Company shares held by the public ( free float ) is relatively small while its market capitalization is large enough , so that the change in the stock price of the Listed Company IHSG.IHSG potentially affect the fairness of the movement is the property of the Indonesia Stock Exchange . Indonesia Stock Exchange is not responsible for any products issued by a user who uses JCI as a reference ( benchmark ) . Indonesia Stock Exchange is not responsible in any way for any investment decision made by any party that uses JCI as a reference ( benchmark ) .
- Sectoral indices
Using all of the Listed Company are included in each sector . Now there are 10 sectors in IDX are Agriculture , Mining , Industrial Base , Miscellaneous Industry , Consumer Goods , Real Estate , Infrastructure , Finance , Trade and Services , and Manufatur .
The index consists of 45 stocks selected Listed Company based on considerations of liquidity and market capitalization , with the criteria that have been determined . Review and replacement stock is done every 6 months .
- Jakarta Islmic Index ( JII )
The index uses 30 stocks selected from stocks in the criteria of sharia ( Islamic Securities Register issued by Bapepam – LK ) taking into account the market capitalization and liquidity .
- Index Kompas100
The index consists of 100 stocks chosen Listed Company based on considerations of liquidity and market capitalization , with the criteria that have been determined . Review and replacement stock is done every 6 months .
- BUSINESS – 27 Index
Cooperation between the Indonesian Stock Exchange by Bisnis Indonesia launched stock index named BUSINESS – 27 index . The index consists of 27 stocks selected based on the Listed Company fundamental criteria , technical or liquidity of transactions and accountability and corporate governance .
- Index Pefindo25
Cooperation between the Indonesian Stock Exchange with the rating agencies PEFINDO launched stock index named Pefindo25 Index . This index is intended to provide additional information for investors , especially for stocks of small and medium-sized companies ( Small Medium Enterprises / SME ) . This index consists of 25 stocks selected Listed Company taking into account criteria such as : total assets , return on capital ( Return on Equity / ROE ) and public accountants opinion . In addition to the above criteria , note also the liquidity factor and the number of shares held by the public .
- SRI Index KEHATI
This index was formed in cooperation between the Indonesian Stock Exchange with the Indonesian Biodiversity Foundation ( KEHATI ) . SRI stands for Sustainable Responsible Investment . This index is expected to provide additional information to investors who wish to invest in issuers that have performed very well in encouraging sustainable businesses , as well as having environmental awareness and runs good corporate governance . This index consists of 25 stocks selected Listed Company by considering the criterion – criteria such as : Total Assets , Price Earning Ratio ( PER ) and Free Float .
- Main Board Index
Using the Listed Company shares are included in the Main Board .
- Development Board index
Mengguanakn Listed Company shares are included in the Development Board .
- Individual index
Stock price index respectively Listed Company .
STATE BOND index ( INDONESIAN GOVERNMENT BOND INDEX – IGBX )
Government Bond Index was first launched on July 1, 2004 with the name of Indonesia Government Bond Index IGBX abbreviated , as a form of capital market services to the community in obtaining data regarding the state bond trading information .
Bond Index gives more value , among others :
- As a barometer in view of the changes in the bond market
- As a technical analysis tool for the government bond market
- Benchmark for measuring the performance of a portfolio of bonds
- Analysis of the development of the instrument Government Securities ( SBN ) .
- State bond index published daily basis menggunakantahun June 2004 set 100 as the base index value . by grouping bonds as follows :
State bonds and the rupiah currency has a fixed rate coupon
Residual maturity of at least 1 year
Metodologi used in IGBX
Government Bond Index is a value weighted average ( weigthed average) of the value of bonds that are still listed and can be traded . Calculation IGBX Bond Index calculation method commonly used to change based on market prices in the market on a daily basis ( in this case is the State Bond transaction price data reported by the Indonesia Stock Exchange as the Beneficiary of Securities Transaction Report ) .
IGBX grouped into several sub – groups , in which each sub- group consists of some government bonds have fallen structure termpo more than 1 year . The grouping is done based on a statistical test based on the degree of similarity of each Time To Maturity ( TTM ) .
Distribution SUN maturity structure is as follows :
- Sub – group 1 : ≤ 1 year Time to maturity < 5 Years
- Sub – group 2 : 5 Years Time to maturity ≤ < 7 Years
- Sub – group 3 : 7 Year ≤ Time to maturity
Clean Price Index ( CPI )
Is the result of the calculation of market price movements over a group of State Bonds , based on maturity. The market price used is the price of government bonds occur and are reported through the Indonesia Stock Exchange as the Beneficiary of Securities Transaction Report be adjusted clean price beforehand . CPI gives an overview of the development of prices at a given time ( t ) , compared with the current formulation of Government Bond Index ( base date ) .
What is meant is the yield to maturity of each bond . Yield Index , also called Bondway ( Weigthed Average Yield Bond ) , a figure derived from the weighted average yield on the nominal value of the bonds are listed and can be traded . This index number , can be used as a tool to measure the success of the acquisition of a portfolio yield .
Total Return Index ( TRI ) .
Almost all exchanges using Total Return Index ( TRI ) as information that must be submitted . TRI is calculated based on the increase in the price index from the previous price . The price used for the calculation of TRI is a gross price ( clean price plus accrued interest ) . For the calculation of the entire index , on the basis of preparation of the index used is the June 18, 2004 .