Islamic Stock Index

Indonesia Sharia Stock Index (ISSI)

Indonesia Sharia Stock Index (ISSI) launched on May 12, 2011 is a composite index of Islamic stocks that listed on the Indonesia Stock Exchange (IDX). ISSI is an indicator of the performance of Indonesia's Islamic stock market. ISSI Constituents are Islamic stocks that listed on IDX and included on List of Islamic Securities (DES) which issued by OJK. IDX didn’t make a selection of Islamic shares that enter into ISSI.

The ISSI constituents are re-selected twice a year, every May and November, following the DES review schedule. Therefore, every selection period, there are Islamic stocks that came out or entered to ISSI constituents. The ISSI calculation method follows the other IDX stock index calculation method, i.e. the weighted average of market capitalization by December 2007 as the base year of the ISSI calculation.

 

Jakarta Islamic Index (JII)

Jakarta Islamic Index (JII) is the first Islamic stock index which launched in Indonesia capital market on July 3, 2000. JII constituents consists of the 30 most liquid Islamic shares that listed on IDX. As well as ISSI, review of Islamic shares on JII constituents held twice a year, on May and November, adjusted the DES review schedule by OJK.

IDX determined and selected the Islamic shares on JII constituents. The liquidity criteria used in selected 30 Islamic shares on JII constituents are follows:

  • Sharia stocks that are included in the constituents of Indonesia Sharia Stocks Index (ISSI) that have been recorded for the last 6 months
  • Selected 60 stocks based on the highest average order of market capitalization during the past 1 year
  • Of the 60 stocks, then selected 30 stocks based on the highest average daily transaction value in the regular market.
  • 30 stocks remaining are the selected stocks.

The list of JII stocks issued by the Indonesia Stock Exchange based on DES can be seen in the following link:

Jakarta Islamic Index

 

Jakarta Islamic Index 70 (JII70)

JII70 is the sharia stock index launched by IDX on May 17, 2018. JII70 consists of only 70 of the most liquid sharia stocks listed on the IDX. As well as ISSI, review of Islamic shares on JII constituents held twice a year, on May and November, adjusted the DES review schedule by OJK.

IDX determines and selects the sharia stocks that become constituents of JII70. The liquidity criteria used in selecting 70 Sharia stocks that become constituents JII70 are as follows:

  • Sharia stocks that are included in the constituents of Indonesia Sharia Stocks Index (ISSI) that have been recorded for the last 6 months
  • Selected 150 stocks based on the highest average order of market capitalization during the past 1 year
  • Of the 150 stocks, then selected 70 stocks based on the highest average daily transaction value in the regular market.
  • 70 stocks remaining are the selected stocks.

The list of stocks of JII 70 which have been published by Indonesia Stock Exchange based on DES can be seen in following link:

Jakarta Islamic Index 70

 

IDX-MES BUMN 17

An index that measures the price performance of 17 sharia stocks which are State-Owned Enterprises (BUMN) and their affiliates that have good liquidity and large market capitalization and are supported by good fundamentals. IDX-MES BUMN 17 is a collaboration between the Indonesia Stock Exchange (IDX) and Masyarakat Ekonomi Syariah (MES). 

IDX determines and selects sharia shares that are constituents of IDX-MES BUMN 17. The criteria used in selecting the 17 sharia stocks that become constituents of IDX-MES BUMN 17 are as follows:

  • Sharia stocks that are included in the constituents of the Indonesia Sharia Stock Index (ISSI)
  • Shares of SOEs or their affiliates
  • From the existing universal stocks, 17 constituent stocks were selected based on their liquidity and fundamentals

The list of stocks of IDX-MES BUMN 17 which have been published by Indonesia Stock Exchange can be seen in following link:

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