TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) on Wednesday, June 29, 2016, booked a foreign net buy of Rp 1.72 trillion. The Jakarta Composite Index (JCI) also performed well on Wednesday, gaining 2.01 percent (97.93 bps) to close at 4,980.10.
The stock market's surge was largely attributable to the House of Representative's decision to pass the Tax Amnesty Bill yesterday.
IDX records show that foreign investors bought 2.05 billion units of shares worth Rp 6.28 trillion, and sold 1.96 billion units for a value of Rp 4.56 trillion.
The IDX floor recorded a transaction value total of Rp 14.41 trillion from the 8.26 units of stocks traded.
On Tuesday June 28, the House of Representatives passed the tax amnesty bill. From the repatriated assets and funds, the government pegged a revenue assumption of Rp 165 trillion, which was listed in the 2016 state budget amendment.
The government and DPR agreed to a tax amnesty period of nine months, starting from July this year until March 31, 2017.