JAKARTA, Dec. 29 (Xinhua) -- The Indonesia stock index rose to new record of 6,355.65 on Friday, the last trading day of the year.

President Joko Widodo conducted the ceremony of annual trade closing on the Indonesia Stock Exchange (IDX).

"The stock market is officially closed at an index of 6,355.65, beyond our expectation," the president said at the ceremony held in Indonesian stock market (BEI) building here.

He expressed his appreciation to all elements involved in national stock market activities and industries for their contributions to further enhancing national economy.

BEI President Director Tito Sulistio said that Indonesian stock market experienced significant improvement as transaction frequency grew almost by 20 percent in 2017.

BEI learned that the number of portfolio investors has increased to 1.12 million with domestic investments recorded at 340 trillion rupiah (about 25 billion U.S. dollars) this year.

Some 37 firms conducted Initial Public Offering (IPO) through BEI this year, making it the largest number recorded by BEI in the last 23 years.