“Investors can now use technology from anywhere, small amounts can also be used. The majority (of capital market investors) are retail investors under the age of 30," he said while giving a public lecture at the University of Muhammadiyah Yogyakarta.
According to the OJK, the number of capital market investors more than doubled during the pandemic compared to 2019, when their number was pegged at 2.6 million, he noted.
Likewise, the proportion of young investors climbed from 54.90 percent in December 2020 to 59.50 percent in October 2021, Santoso informed.
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The increase in investor interest was due to restrictions on mobility during the COVID-19 pandemic, which prompted young investors to shift their money to the capital market, he explained.
The handling of the economic crisis caused by the COVID-19 pandemic was still better than the crises in 1997–1998 and 2008 because of the presence of technology, Santoso observed.
"This is an economic laboratory, so we did not create this but it is real and technology helps," he remarked.
In addition, fundraising in the capital market in 2021 topped the value recorded in 2020, he said. As of November 30, 2021, it reached Rp321.8 trillion from 169 public offerings (PU), he added.
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"There are still 9 PUs of Rp6.51 trillion that are in the pipeline; it is estimated that the 2021 target has been achieved," he said.
The good performance of the capital market is also reflected in the Indonesian Composite Index (IHSG), which has continued to move positively after reaching its lowest point of 3,937.63 on March 24, 2020, he added.
The OJK has issued a market stabilization policy in the form of a ban on short-selling, trading halts, adjustment of auto rejection limits, and share buybacks without a general meeting of shareholders (RUPS), he said.
"With this policy, the Indonesian Composite Index continues to move in a positive direction, where on December 2, 2021, IHSG (was recorded) at the level of 6,583.82," Santoso added.
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