Jakarta, CNBC Indonesia – President Joko Widodo has officially revoked the PPKM in Indonesia, but the Indonesia Stock Exchange (IDX) has confirmed that the exchange’s trading hours in early January 2023 have not changed. This was also confirmed by the Financial Services Authority (OJK) which said that Exchange (AB) members wanted trading hours not to revert to pre-pandemic times.
OJK Capital Markets Supervision Chief Executive Inarno Djajadi said he had asked IDX to conduct a survey on this matter. It was from the survey that AB’s expectations were known.
“All members of the exchange want trading hours not to return to normal. It turns out that after being shortened from 4 to 3 hours, the RMTH that occurs does not decrease and rather increases,” Inarno said at the press conference OJK Monthly, Monday (2/1/2023).
Even so, Inarno has promised to continue to study and review the matter and see developments.
“This is input from market players and we will continue to see that develop,” Inarno said.
In addition to reviewing trading hours, OJK is also reviewing symmetrical auto rejection, which is admittedly quite a ways off. That is 35% for the upper limit and 7% for the lower limit.
“Let’s see and we continue to study, we see that it will gradually return to normal and it is being studied,” concluded Inarno.
Previously, IDX director Irvan Susandy said trading hours were always the same. This also clarifies the questions circulating about the return of stock exchange hours to the way they were before the pandemic. This issue arose with the issuing of the Decree of the Board of Directors of the Indonesia Stock Exchange on the changes to the trading guidelines dated December 28, 2022.
The letter stated that trading hours would be the same as before the pandemic, i.e. 09.00 to 12.00 for session I. Meanwhile, session II ran from 13.30 to 15:00: 49.
“In the guidelines, it refers to normal hours. However, we still use it to refer to pandemic trading hours,” Irvan explained.
Pandemic trading hours are 09:00 to 11:30 for session I and 13:30 to 15:00 for session II.
Irvan added that the trading hours referring to the hours before the pandemic were more due to adjusting to strict legal language. As for when the schedule change will return to normal, Irvan said it is still in discussions with the relevant authorities.
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