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Jakarta, CNBC Indonesia – The capital market is expected to react negatively as a result of the implementation of the comprehensive policy of Large-Scale Social Restrictions (PSBB) for the second time.
Jarvis Asset Management’s chief marketing officer Kartika Sutandi estimates the stock market may fall and some stocks are expected to turn red, including issuers from banking, retail and toll roads.
“First is banks, NPLs will definitely increase. Retail will definitely be affected. The toll road, Jasamarga, is silent again,” he told CNBC Indonesia in Jakarta on Wednesday (9/9/2020) .
Although there were several stocks that fell, he said there were some stocks that resisted. Among them are actions related to daily needs such as Unilever for pharmaceutical companies.
“Those who survived were Telkom and then the telecommunications tower company,” he said.
Also, in response to this, Trimegah Sekuritas economist Fakhrul Fulvian said that Indonesia’s economic growth is sure to be negative. “The W-shaped recovery has confirmed the recession in Indonesia,” he said briefly.
In line with Fakhrul, director of equity capital markets at PT Samuelel International, Harry Su also said the same. He said that Indonesia’s economy would experience a decline.
“Of course economic and market conditions will fall. But if not, Covid-19 will also force the economy to slow down,” he said.
Just for information, the provincial government of DKI Jakarta will implement the PSSB again from September 14, 2020 and close the office activities. This was after seeing the development of the Jakarta Covid-19 case and support for hospital facilities that were deemed emergency.
“At the meeting it was concluded that we will apply the emergency brake, which means that we are forced to re-implement the PSBB as in the first days of the pandemic. It is no longer a transitional PSBB but we must carry out the PSBB as in the early days, “said DKI Jakarta Governor Anies Baswedan at City Hall. Jakarta, Wednesday (9/9/2020).
He said that if there were no emergency policy in Jakarta, the effect would be that death from Covid-19 would be high in Jakarta.
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