Dasco Reveals Trading Automatically Freeze When JCI Drops Is Not New

Deputy Chairman of the Indonesian House of Representatives (DPR) Sufmi Dasco Ahmad during a visit to PT Bursa Efek Indonesia (IDX). (Photo: Aris Nurjani/VOI)

JAKARTA - Deputy Chairman of the Indonesian House of Representatives (DPR) Sufmi Dasco Ahmad explained that the automatic freezing of the Composite Stock Price Index (JCI) was not the first time this had happened.

"So responding to automatic freezes due to corrections from the combined stock price index of 5 percent which is automatic and not the first time this has happened and has already occurred during COVID and others," he said at a press conference, Tuesday, March 18.

Dasco conveyed his visit to the Indonesia Stock Exchange (IDX) to convince market participants to remain calm and support Indonesian capital market regulators.

"Today we are making visits to support and convince the market to remain calm," he explained.

According to Dasco, the government will take important steps in restoring market confidence so that it returns to a stable condition.

"We will support the government to attend and take steps deemed necessary within the immediate time to restore the market so that it is stable. Hopefully this can help and calm the market," he said.

Chairman of Commission XI Misbakhun emphasized his presence to the IDX to rebuild market confidence and provide full support for the Financial Services Authority (OJK) and the IDX for all policies they will take regarding current conditions.

"We want to build trust in the market, that we provide full support to the Financial Services Authority, to the Indonesia Stock Exchange, to the policies they take regarding the current situation," he said.

According to him, this was done to give confidence to market participants that the state was present supported by the government.

"What is this for? Convince the market that they are fully backed up by the state, fully backed up by the government," he said.