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Jokowi hopes inflow of funds go beyond capital market
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A trading floor of Indonesia Stock Exchange (IDX) building. The Jakarta Composite Index (JCI) broke a new record on Wednesday. (JP/Wienda Parwitasari)
P
resident Joko "Jokowi" Widodo has praised the strong performance of the capital market so far this year, and expects that similar developments will follow in the real economy.
The Jakarta Composite Index (JCI), the Indonesia Stock Exchange’s (IDX) main gauge, hit an all-time high on Wednesday, closing the day trading at 6,025.43.
Jokowi said Thursday that the new record would have a positive psychological impact and hoped that the index would rise further. He also expected to see the excellent performance of the financial market replicated in other industries.
"I hope the inflow of money will not only be funneled into portfolio investments, but also into the real economy, especially for small and medium enterprises (SMEs)," he said.
Read also: JCI hits another record highIn a related development, the government is actually pushing for SMEs to list their shares on the stock exchange.
In July, the Financial Service Authority (OJK) issued the OJK Decree No. 54/2017 regarding the prospectus and initial offering for SMEs.
The IDX is set to follow up the decree by providing a new board for SMEs.
IDX director Nicky Hogan said the bourse was still preparing for the new board. (lnd)
