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Jakarta Post

IDX kicks off 2019 trading, anticipating poor global sentiments

  • News Desk

    The Jakarta Post

Jakarta   /   Wed, January 2, 2019   /   04:07 pm
IDX kicks off 2019 trading, anticipating poor global sentiments Coordinating Economic Minister Darmin Nasution (left) kicks off the first trading at the Indonesia Stock Exchange (IDX) on Jan. 2 along with Finance Minister Sri Mulyani Indrawati (third left), Bank Indonesia senior deputy governor Mirza Adityaswara (right), IDX president director Inarno Djajadi (second right) OJK head Wimboh Santoso (second left) and OJK bourse supervision executive head Hoesen. (Antara/Akbar Nugroho Gumay)

The Indonesia Stock Exchange (IDX) on Wednesday kicked off the first day trading of 2019 as the bourse's management and investors continued to look at the impact of adverse global sentiments caused by economic uncertainty.

They saw the Jakarta Composite Index (JCI), which closed at 6,194, was in line with expectations, although it was lower than in 2017, when it was at 6,355.

In a speech during the event, Financial Services Authority (OJK) head Wimboh Santoso stressed that the global economy would be still under pressure in 2019.

“We will strengthen synergy [with other parties] to increase the number of share issuers. The companies do not need to be big in terms of capital,” Wimboh said at an event attended also by Coordinating Economic Minister Darmin Nasution.

Both Darmin and Wimboh said that although the index still corrected in 2018, the performance was better than in the bourses in other emerging countries.

In 2018, 57 new companies listed in the IDX, making the total 619.

Wimboh said the OJK would expand investment instruments to invite more to invest their funds in the bourse.

Meanwhile, Darmin added that the IDX had managed to mitigate the effects of the global economic fluctuation triggered by a trade war between the United States and China and the decline of the prices of commodities.

“The main challenge is how to increase the demand side. We need a certain strategy to convince people to invest in the bourse,” he added.  

The JCI strengthened by 0.17 percent to 6,204 when trading opened. (bbn)