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Jakarta Post

Stock market expected to fare better next year amid strong business confidence

  • Riska Rahman

    The Jakarta Post

PREMIUM
Jakarta   /   Wed, December 11, 2019   /  01:55 pm
The Jakarta Post Image
A man passes the iconic round table on the trading floor of the Indonesia Stock Exchange (IDX). Analysts estimate that the Jakarta Composite Index (JCI) will hit the 7,000 mark in 2020.(thejakartapost.com/Wienda Parwitasari)

Market players are upbeat that the stock market will fare better in 2020, particularly in the second half of next year, as an omnibus law and relatively stable economic growth are expected to bring positive sentiment to the market. Mandiri Manajemen Investasi president director Alvin Pattisahusiwa said that once the omnibus bill was passed after being submitted to the House of Representatives in the first quarter of next year, it would bring fresh hope that business activities would be revived.  “The omnibus law will be implemented in 2021, but market players will price in its positive impact six months before,” he said at a business forum held to discuss the country’s 2020 economic outlook in Jakarta on Tuesday. The bill will harmonize about 70 overlapping laws and regulations that are believed to hamper investment and business activities. Citigroup Se...