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Jakarta Post

Exit of foreign brokers not reflecting RI market performance

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Tue, July 30, 2019   /  11:58 am
The Jakarta Post Image
‚ÄčA man passes the iconic round table on the trading floor of the Indonesia Stock Exchange. ( Parwitasari)

As foreign brokerage Merrill Lynch decides not to resume trading on Indonesia's bourse and Deutsche Bank securities branch here may do the same, questions abound about if this says anything about the domestic capital market's performance. Market players, however, are quick to rebuff any negative sentiment, saying the local stock market would continue to perform strongly relative to other markets in the world and that the decision to stop stock trading in Indonesia reflects a global restructuring of their multinational securities. The Indonesia Stock Exchange (IDX) officially revoked PT Merrill Lynch Sekuritas Indonesia’s brokerage permit on Monday following the company’s announcement it would close its stock trading business in the country. The firm no longer has a brokerage seat to trade stocks on the Indonesian bourse and has been removed from the IDX&rsq...