The fall of Composite Stock Price Index (CSPI) in last 2 days since Monday had a big impact on capital market in Indonesia. Because along with the drop in CSPI, the share prices of six large-capitalized banks (BOOK IV, core capital above Rp 30 trillion) were also compactly collapsed on Tuesday (6/8/2019) session I on the Indonesia Stock Exchange (IDX).
It is reported that on Monday (8/4/19), there was power outages incident since 11:45 am which caused the areas in Greater Jakarta, West Java and Central Java to dark out.
People were left in shock on Sunday, August 4. It is because of the sudden blackout that hits Banten, Jakarta, Bandung and more cities. What's more important, the blackout occurs for 6-18 hours; varies duration in different places.
The Central Statistics Agency (BPS) has released a report on investment growth in the second quarter of 2019. In its report, the BPS said that economic growth in the second quarter of 2019 was only 5.01 percent or lower than the same period last year of 5.85 percent. This weakening occurred due to the contraction in the growth of investment in capital goods, in addition to buildings and machinery.
Indonesian society is currently being confused by the proliferation of illegal fintech companies. The Financial Services Authority (OJK) even notes that illegal finteches operating in Indonesia reached more than 1,200 entities, far higher than the official ones.
Jakarta-headquartered Bank Mandiri revealed a plan to expand its business in Southeast Asia countries which are Cambodia and Laos since both of the countries’ markets are fairly large.
On Monday, a spokesman of the House of Representative’s Commission XI Michael Jeno said the government would like to have a better understanding about the new capital city of Indonesia, Central Borneo (Central Kalimantan).
Bank Indonesia has decided to reduce benchmark BI 7 Days Reverse Repo Rate (BI7DRRR) by 25 bps to 5.75 percent. After since November 2018, it has held interest rates of 6 percent.
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