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HSBC Remains Cautious on Indonesian Stocks, Targeting IHSG at 7,500
HSBC Global Investment Research has predicted a target for the Jakarta Composite Index (JCI) of 7,500 by the end of this year. According to Chief Asia Equity Strategist at HSBC, Herald van der Linde, capital markets in developing countries are generally still on a positive trend. Though, there is still uncertainty surrounding Indonesia's position in the Morgan Stanley Capital International (MSCI Index). Herald implied that if Indonesia were to descend into a frontier market it would lead to massive selling, particularly among passive funds like ETFs, which would have to exit the country. However, this scenario is not absolutely certain as Indonesian regulators are continuing to strive to maintain Indonesia’s position in emerging markets.
PwC Indonesia and Amvesindo Advance Stronger VC Governance
Amvesindo, in collaboration with PwC Indonesia, hosted a Halal Bihalal gathering alongside an Executive Workshop to strengthen collaboration and governance within Indonesia’s venture capital ecosystem. Held on 8 April 2026 at World Trade Centre 3 in Jakarta, the event brought together 63 Amvesindo member companies as well as startups, research institutions, and other ecosystem partners.
The discussion highlighted the growing importance of strong governance, risk management, and resilience amid an evolving startup landscape and global economic uncertainty. OJK emphasised that governance remains the foundation of industry soundness, while industry leaders underlined the need to balance growth with solid business fundamentals.
As part of the programme, PwC Indonesia facilitated an Executive Workshop on forensic audit and fraud risk in startup investments. Emphasising the importance of early‑stage controls, Sacha Winzenried, Director of PwC Indonesia, stated: “This makes strengthening governance and risk management a crucial factor in preventing mismanagement and fraud, while also safeguarding the industry’s reputation in the market.” The collaboration reflects a shared commitment to building a more resilient and sustainable venture capital ecosystem in Indonesia.