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Layoffs will soon be over, IDX Director Says

Translator

Editor

11 February 2016 13:56 WIB

Indonesia Stock Exchange. TEMPO/Tony Hartawan

TEMPO.CO, Jakarta - Tito Sulistio, President Director of the Indonesia Stock Exchange (IDX) is confident that the currently ongoing layoff trend will soon be over. "There are layoffs,but this is the bottom floor, things will not get any worse," Tito sain on Thursday, January 11, 2016.

Tito asserted that Indonesia's fundamental economic conditions and stock market performance is considered to be doing fine. "I am optimistic that our economic will grow more than five percent this year," Tito said.

Tito added that positive performance of the Jakarta Composite Index (JCI) provides enough indication on Indonesia's improving economy. "JCI performance is more likely affected by good economic prospects. The JCI’s fluctuation is always ahead of the economy’s fluctuation," Tito explained.

Based on the IDX data as of February 2016, the JCI is recorded to have booked a 3.04 percent gain to a level of 4,372.8 (year to date).

Tito added that issuer listed in the IDX continue to book positive performance despite of the ongoing economic slowdown. In addition, the recent decrease of Bank Indonesia benchmark interest rate has helped to allow the country’s stock market industry to continue making improvements.

"This accumulations of positive sentiments is the thing that keeps our stock market strong," Tito concluded.

PINGIT ARIA



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