Indonesia’s Financial Services Authority relaxes buyback rules as JCI falls

Visual from OJK website

Indonesia’s Financial Services Authority (OJK) has relaxed the buyback rules for public listed companies, helping the market rebound to recover, after it had  entered bearish territory last week. The Jakarta composite index (JCI) had dropped 1.9 per cent to 4,356.902 on Friday (August 21)to its lowest close since Jan. 28, 2014.

According to Indonesia Stock Exchange (IDX) data, foreign investors pulled $185.4 million from Indonesian stocks on Aug. 20, the largest daily outflow since Dec. 24, 2014. The index, which is set to post its worst weekly decline,  lost 21 per cent since its peak in April, and is seen entering a bear market.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter