"Saksikan tayangan kami Official Youtube IDX Channel di Program Market Buzz, Jumat (21/03/2025) dengan Tema Menakar Dampak Sentimen Pengesahan UU TNI ke Pasar Modal".
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00:00Let's go to the spotlight market where EISG strengthens 1.1% to 6,381 shares.
00:11And indeed, the conglomeration shares are back on track, as we have reported.
00:16There is a sectoral strengthening technology.
00:19DCII strengthens 20% to 166,725 shares.
00:24And the next information, the shareholder of Prajogopang is borrowing 1.77 million brand shares.
00:29And the share is up 5.6%.
00:31From the economic agenda, you can see the information on the screen.
00:37The Federal Reserve, then from Japan, the Consumer Price Index,
00:42from South Korea, the Producer Price Index, and other global economic agendas,
00:47including China, Foreign Currency Planting.
00:49Next, from the domestic agenda, MI10, there will be RUPS from Bangdanamon,
00:55then also from DFAM, MINA, WINR, Ex-Dividend Tunai from BCA.
01:04Later we will monitor in the middle of the Ex-Dividend Tunai, what are the moves from BCA.
01:09We are waiting for an update from the Asian Stock Exchange in the middle of weakening,
01:13thin from the US Stock Exchange, Asia is also weakening.
01:18There is the Times, Singapore fell 0.27%, KOSPI fell 0.13%,
01:24Hang Seng, Hong Kong fell 2.23%, and Nikkei rose 0.37% from Japan.
01:38It has been connected through a video conference with Iburita Efendi,
01:41Investment Consultant and Founder of Indonesia Investment Education.
01:45Good morning, Iburita.
01:47Good morning, how are you?
01:49I'm great, thank you for joining us this morning.
01:52Iburita, are you abroad or in Indonesia?
01:58I'm still in Indonesia, because we are still monitoring the index.
02:03Still monitoring, there is still a chance, right?
02:05Although compared to today, it means that next week, on the 28th, the market will close on Monday.
02:14The government, especially the president,
02:17held a meeting with a number of ministers and the chairman, Luhut Bin Sarpanjaitan,
02:24and the news was about the entry of capital market movements,
02:29and there was a follow-up comment from the chairman, Luhut Bin Sarpanjaitan,
02:33who said that the TNI law will not affect the capital market, but will be a positive sentiment.
02:41How do you see the attention, especially from the president,
02:46to the current capital market movements, which can be said to be quite extreme?
02:54So we have to appreciate the fact that the capital market is so important for our government.
03:01That's why we immediately see some quick steps,
03:04as soon as the index is sharply corrected, there is a deficit from government representatives,
03:09then from the OJK, they immediately made a decision that gave a fresh breeze to the committee,
03:16that they can buy back without a rupture, like what happened before the COVID-19 incident.
03:21So this is still a step that we must appreciate.
03:23And then the president also gathered capital market players to discuss,
03:29maybe to hear opinions or input.
03:32Actually, today there is also an event at CNBC,
03:36and it also gathers capital market players.
03:39But yes, the event is from morning to noon.
03:42So I see it as a very positive thing.
03:44Indeed, the government is so active to ensure that our index can survive.
03:50Indeed, there are many issues, both negative from the regional and domestic.
03:55Okay, we know that when the Samkabung Stock Index on March 18th was quite deep,
04:00even 7%, and the stock market did a trading halt,
04:04in the afternoon, the head of the DPR RI, Soef Midasco, and his group immediately came.
04:09And this is the first time the Indonesian Stock Exchange has been visited by the DPR.
04:14Okay, the head of the National Economic Council, or DEN, Luhut Binsar Panjaitan,
04:18insisted that we should go to the TNI laws,
04:22not affecting the condition of domestic economic investment.
04:25In fact, in his opinion, this can maintain a positive sentiment for the economy.
04:28But there were many rumors last night, especially from students,
04:31and there are still many who are a bit pessimistic about it.
04:34How do you see this sentiment going to the capital market?
04:40Actually, the statement from Talhut must be seen first by the market response.
04:46It seems that the market has been very worried since yesterday
04:50with the involvement of the TNI in the sector.
04:55So let's see first, is there any transparency?
05:01If it's transparent, it shouldn't cause much concern.
05:07Then foreign investors may also see it as a risk,
05:11because they see the instability of democracy and the state of affairs.
05:14But I see, we have to see first,
05:17after the revision, how they will sit in those important positions.
05:23Will they just keep an eye on it,
05:27but not too actively involved?
05:30I don't think it will be too provocative.
05:35So we still have to wait for the next step.
05:39We are waiting for the next step. What is the transparency like?
05:42Do you agree with the statement from the government
05:45that this is actually a positive sentiment for the economy?
05:49But it can't be denied that the capital market usually reacts first.
05:53When something happens, it usually goes down first,
05:56if it's negative. If it's positive, it's the same.
05:59If something positive happens in the future,
06:02the market usually goes up first.
06:04You don't see that the current extreme turmoil in the capital market
06:07reflects the future that may have been anticipated from now on.
06:11What do you think about this?
06:15I think it's normal.
06:17If a new government, after the replacement of the previous regime,
06:21often has a turmoil like this.
06:24Maybe if you can remember, 10 years ago,
06:26when Mr. Jokowi was just in power, there was also a turmoil.
06:29But this time it's worse.
06:32Because coincidentally, we have Donald Trump abroad
06:35who has quite extreme policies.
06:37And we may also inherit some fiscal risks
06:43from the previous government,
06:45from foreign loans that will fall in time.
06:48So actually, this turmoil is quite normal.
06:51Quite normal?
06:52Yes, because they are just in power.
06:55Maybe there is a new policy that they will implement.
06:58And the market's response was definitely negative at first.
07:03But after a while, the proof that the policy can be carried out well,
07:08transparency, and in accordance with what the market wants,
07:12I think it will pass after a while.
07:17Okay, Iburita.
07:18In general, where do you see the policies of the current government?
07:21How is it?
07:23Is it pro-tendering to the capital market?
07:25There are also those who say that it seems unclear.
07:28How is it?
07:30Yes, at first there was no certainty.
07:33Because there are changes in regulations.
07:37The communication was also unclear yesterday.
07:42Mr. Prabowo said that the capital market is judicious.
07:47Maybe he was kidding.
07:48But it is connoted by the capital market players.
07:54Then, yes, there are many.
07:56But maybe he tried to improve the communication.
07:59That's why this time he tried to gather the capital market players to meet.
08:04Okay.
08:05Maybe the communication is still not good.
08:09Maybe we have to admit that this is a new government.
08:12They are still clueless or trying to continue what they did before.
08:18So maybe that's the communication factor that needs to be increased.
08:23And the explanation of what the next capital market will be like.
08:28Will it really become a concern again?
08:31Because for the last few months since the change, it doesn't seem to be the main concern.
08:39But after the internal correction, maybe it will be a better concern.
08:44Actually, the index weakness has been directed.
08:47If we talk about the year-to-date, it's 9.86%, almost 10%.
08:51Maybe the fluctuations started to appear from the communication pattern of the president earlier.
08:55He said that the stock market is volatile.
09:00Then, at the opening of the year-to-date trading, he was not present.
09:04Then, yes, there are many things and many policies that have not been evaluated yet.
09:11We have to wait and see first.
09:13Well, by looking at what you said earlier, it seems that there is an effort from the government to improve it.
09:20For example, by meeting with investors, ministers asking for income,
09:24and also planning to reduce bureaucracy and deregulation to invest heavily, deregulation.
09:30Do you see slowly, maybe after Eid,
09:34especially since there is a sentiment that Eid people want to holiday first,
09:37secure their position first, afraid that later there will be unexpected policies externally.
09:42Do you see that investors' confidence will improve soon through the efforts of the government?
09:48Yes, the deregulation planned by Mr. Prabowo is actually a really positive step
09:53to simplify the rules that protect investment.
09:56But consistent implementation and monitoring of policy effectiveness will still be a determining factor.
10:03So investors will still wait for the deregulation that will be planned to work.
10:12So, this is a speech.
10:14I mean, is the plan and practice going to be as smooth as expected?
10:19We are still waiting for the reality to be smooth.
10:25If it's smooth, it's really good.
10:27Because we are really left behind for investment.
10:31Many other countries have gotten foreign investors, but we are still left behind.
10:37But honestly, from all my experience in the capital market,
10:41and all my years in the capital market,
10:43I say that this year is really difficult.
10:48This year is really difficult?
10:50Yes, compared to the previous crises.
10:52Since 1998, we have experienced the financial crisis,
10:56then also in 2000, various crises.
10:59This year is difficult because we used to, for example, in the banking correction,
11:03we can hide in some community.
11:06But this time, even in the commodities,
11:08we have an increase in royalties that eventually the shares are also corrected.
11:12Then we want to hide the consumer, but there is a cut spending.
11:16The government spending is cut for allocations to other sectors.
11:20Consumers will get less spending,
11:26so the consumer sector will also be ...
11:30Sustained?
11:31Yes.
11:32So we are also confused now where to hide.
11:35In the past, there was still a defensive stock,
11:38but now the defensive is also ...
11:41not like that.
11:43We will find out later.
11:45If so, you recommend in a situation like this,
11:48what should we do?
11:50And also, we will discuss something interesting,
11:52that is the IPO.
11:53If the stock market is reopened after the holiday,
11:56on the 11th, maybe April 11th,
11:57there will be an IPO from Kopi Fore.
12:00I will be back soon.