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Jakarta Post

Vice President Kalla opens stock market's first trading day

  • Anton Hermansyah
    Anton Hermansyah

    The Jakarta Post

Jakarta   /   Tue, January 3, 2017   /  10:48 am
Vice President Kalla opens stock market's first trading day Vice President Jusuf Kalla opens the first trading day of the Indonesia Stock Exchange (IDX) in 2017 in Jakarta on Tuesday. (JP/Anton Hermansyah)

Vice President Jusuf Kalla opened the first trading day of the Indonesia Stock Exchange (IDX) in 2017 on Tuesday, hoping for a better trade environment and improved system.

"Hopefully this year will be better. Together we will work to improve the system," Kalla said in a short speech before ringing the bell at the IDX building on Tuesday.

The Jakarta Composite Index (JCI) opened at 5,296.71, an increase by 15.32 percent compared to the first trading day last year.

(Read also: Indonesia stock market finishes 2016 with rebound)

In the same event Financial Services Authority (OJK) chairman Muliaman Hadad said that during 2016, the number of public offerings, including the initial public offering (IPO), bond issuances and rights issues, reached Rp 194.74 trillion (US$14.45 billion) – more than half of Rp 334 trillion in the banking industry's credit disbursement during the same year.

"The stock market right now is not only the alternative source for investing but also the alternative source to get funding other than the traditional bank loan," he said. 

 

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