Minister Says Anies' PSBB Announcement Triggers Uncertainties in Capital Market



Laila Afifa

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  • TEMPO.CO, Jakarta - Coordinating Minister for Economic Affairs Airlangga Hartarto said that the capital market is hit by uncertainties following Jakarta Governor Anies Baswedan's announcement about his plan to reimpose Large-Scale Social Restrictions or PSBB.

    "Today the index is still slammed by uncertainties stemming from the governor's announcement last night. This morning, the index was already below 5,000," Airlangga said in a video conference, Thursday, September 10.

    The minister said the Jakarta Composite Index (JCI) was getting better compared to April's levels. Some sectors that showed improvements include the chemical, agriculture, financial, mining and consumer industries.

    Airlangga said that all policies regarding people's mobility and activities must be carefully controlled, and not done suddenly. "We have to maintain public trust, because in the economy, not all factors are fundamental. There are sentiments, especially in the capital market sector," said Airlangga.

    The JCI opened today's trade in the negative territory. At 9:04 Jakarta time, the index fell 216.3 bps or 4.2 percent from yesterday's close.

    RHB Sekuritas analysts in its daily publication wrote that the re-implementation of total PSBB in Jakarta is a rational step from the government. The capital has been seeing sharp increases in daily cases over the last few days.

    Read: Kadin on Jakarta PSBB Reimposition: This Is Very Challenging for Business World