Indonesia is set to unveil details of a second stimulus package


Stock trading on the Indonesia Stock Exchange (IDX) was suspended (halt trading) after the Jakarta Composite Index (JCI) dropped 5.01% to 4,895.75. The decrease occurred at 15.33 WIB. The Financial Services Authority (OJK) has issued a policy as an anticipatory measure in reducing sharp fluctuations in the capital market. The policy is to order the Indonesia Stock Exchange (IDX) to stop trading for 30 minutes if the Jakarta Composite Index (JCI) falls 5%or more. This was revealed in the OJK letter to the Indonesia Stock Exchange (IDX). (CNBC Indonesia)

Indonesia is set to unveil details of a second stimulus package that will provide a string of tax breaks aimed at countering the economic impact of the coronavirus crisis. “We are still selecting the sectors eligible for the planned tax breaks: income tax, import tax and corporate tax,” Susiwijono Moegiarso, secretary of the Coordinating Ministry of Economic Affairs, said by phone Thursday. “The purpose is to curb the impact of the coronavirus outbreak and we are still looking at the sectors that are most affected,” he said. The details of the emergency stimulus will be announced at 10 a.m. local time on Friday, the ministry said. (Bloomberg)

Source: Danareksa Sekuritas Debt Research
Photo by Aditya Indrajaya