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Jakarta, CNBC Indonesia – The Indonesian Stock Exchange (IDX) said it would not add new policies to anticipate market conditions after the provincial government of DKI Jakarta decided to re-implement large-scale social restrictions (PSBB) starting early next week.
The Director of Commerce and Regulation of IDX Exchange Members, Laksono Widodo, said that the policies implemented by the stock exchange are currently in adjustment to pandemic conditions, so it is considered that there are no additional policies that should be implemented.
“Not yet. Condition market still in a pandemic condition, especially with the hours of operation that have not been changed to normal, “Laksono told CNBC Indonesia on Thursday (10/09/2020).
Meanwhile, some time ago IDX re-implemented pre-open policies (pre-opening). This policy was applied despite the conditions market When this fluctuates again
Laksono assessed that the re-implementation of the PSBB was necessary to control the transmission of Covid-19, especially in the DKI Jakarta area.
“Naturally, the market reaction to this PSBB,” he added.
After Governor Anies Baswedan announced that he would re-implement the PSBB as of September 14, 2020, market players responded negatively to this.
In fact, the trading session has been temporarily suspended (commercial stop) precisely at 10:36:18 JATS time, which was caused by a decrease in the Jakarta Composite Index (IHSG) by 5%.
This is done in accordance with the Decree of the Board of Directors of the Indonesian Stock Exchange Number: Kep-00024 / BEI / 03-2020 dated March 10, 2020 regarding Changes in the Guidelines for the Continuity of the Trading on the Indonesian Stock Exchange under Emergency Conditions.
“Trading will resume at 11:06:18 JATS time with no changes to the trading schedule,” the IDX statement wrote.
Previously, Pilarmas Investindo Sekuritas said that the sentiment would come from the DKI Jakarta government’s policy to re-implement large-scale social restrictions (PSBB). This total PSBB will undoubtedly have a negative impact on the national capital market, both in stocks and bonds.
However, this assurance sees that this time market players and investors are expected to be more prepared to accept this, so a decrease is likely to occur, but by a smaller percentage, while market participants and investors watch and watch subsequent developments.
“There is a potential for the transfer of funds from equities because assets that have a higher risk value to bonds with a lower level of risk. However, with the restoration of the full PSBB, there is the possibility that the market of bonds also experience an increase in yields today as a form of compensation for increased risk. “Securities wrote, Thursday (10/9/2020).
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