The Chairman Of The OJK At The 2023 Exchange Trading Opening: Market Conditions Brutal', An Atmosphere Of Stabbing In Europe

Chairman of the OJK Board of Commissioners Mahendra Siregar (Photo: Capture the screen of the Indonesia Stock Exchange Youtube)

JAKARTA European stocks are lower, ending a brutal year on aak note. This was conveyed by the Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar by quoting the global financial media headline to provide an overview of the condition of the world financial market in 2022.

According to him, this situation is much different from the Indonesian capital market which succeeded in making a number of positive achievements over the past year.

"The keyword is brutal in the news, because it is said that the European market has fallen due to war conditions in Ukraine, high inflation, and strict monetary policy," he said at the opening of the 2023 Indonesia Stock Exchange trading, Monday, January 2.

Mahendra said this bratility' at the same time explained that the stock index in Europe had decreased by 12 percent.

"This means that (the market in Europe) has been the worst since 2018 and is even worse than during the 2020/2021 pandemic," he said.

The OJK boss also said that the Blue Continent region has the potential to experience an acceleration of a deeper economic decline at the beginning of the year.

Britain's central bank has even stated that the economy will fall into a prolonged recession. So that's a tense atmosphere in Europe," he said.

Therefore, Mahendra invites all parties to work hard and be grateful for the economic growth and market achievements of the Indonesian effect throughout 2022.

"In the midst of global turmoil and uncertainty, Indonesia's economic and capital market performance actually survives and shows very positive performance. In fact, we are best compared to countries in ASEAN and Asia in general," he stressed.

To note, in 2022 the Composite Stock Price Index (JCI) will experience a 4.1 percent growth and become the second best in ASEAN after Singapore. The book brought RI to be the eighth best stock market globally.

Throughout last year, the JCI market capitalization reached IDR 9,499 trillion, an increase of 11.41 percent from the position at the end of 2021 which was valued at IDR 8,256 trillion.