"When the General Election Commission (KPU) announced the election results on May 22, the Composite Stock Price Index (IHSG) increased," noted IDX Development Director Hasan Fawzi in Jakarta on Tuesday (28/5) evening.Jakarta (ANTARA) - The trading of shares on the Indonesian Stock Exchange (IDX) remained uninterrupted during the past week, following the riots on May 22, 2019 in Jakarta, which protested the results of the 2019 Presidential election.
"When the General Election Commission (KPU) announced the election results on May 22, the Composite Stock Price Index (IHSG) increased," noted IDX Development Director Hasan Fawzi in Jakarta on Tuesday (28/5) evening.
Hasan Fawzi opined that stock market investors bought selectively to ensure that the IHSG remained stable at 6,000 points.
Based on IDX data, the IHSG, on May 22, 2019, was at 5,939.63 points, whereas on Tuesday (28/5) the IHSG closed at 6,033.14 points, an increase of some 1.58 percent.
"The May 22 riots did not influence stock market players," Hasan Fawzi stated.
The Coordinator of General Chair Committee of Association of Indonesian Securities Companies (APEI), Karman Pamurahardjo, added that investors are currently focused on external situations, especially the trade war between the United States and China, which has not yet ended.
"The situation following the riot tends to be calm and security forces have succeeded in maintaining the trust of investors," PT Profindo Sekuritas President Director Karman Pamurahardjo said.
He added that investors are currently focused on the trade war, which can affect the pace of global economic growth, including in Indonesia.
"Investors need to be selective in determining their investments and choosing 'blue chip' stocks (stocks with large capitalization values)," he remarked.
In the future, he expects the government will maintain the calm climate, in an attempt to convince local investors and foreign investors to invest in the Indonesian stock market.
(INE)
Translator: Royke, Zubi, Azis Kurmala
Editor: Fardah Assegaf
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