SENTUL - The Composite Stock Price Index (JCI) fell 5% as the market awaited certainty from the leadership of the Financial Services Authority (OJK). Finance Minister Purbaya Yudhi Sadewa assessed that this turmoil was triggered by the transition of financial authority leadership, not a fundamental change in the economy.
"The market is still waiting. This is temporary. The economic foundation has not changed, it will even improve," said Purbaya in Sentul, Bogor, Monday (2/2). He called the current condition a short-term uncertainty phase. "If I am, I will just go down," he said, assessing the correction as an opportunity.
The government, he continued, has started the selection committee (pansel) process for the definitive OJK chairman. The process is underway today. The target is fast. "A week or two weeks there must be a new OJK chairman," he said. He ensured that there was no special direction from the President regarding the name of the candidate.
Purbaya is optimistic that after the panel process begins, the certainty of the regulation will recover and market sentiment will improve. "It will go up soon," he concluded.
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