JAKARTA - The Indonesia Stock Exchange (IDX) and the Financial Services Authority (OJK) agreed to postpone the implementation of short selling, and review buyback rules without having to wait for approval from the General Meeting of Shareholders (GMS).

The decision was taken to reduce market pressure, after the Composite Stock Price Index (JCI) fell sharply in trading last week.

“Postpone the implementation or implementation of short selling and review the policy of relaxation of share buybacks without GMS,” said Aditya Jayaantara, Deputy Commissioner for Supervision of Capital Market Investment Management and OJK Securities Institutions, in a Joint Dialogue with Capital Market Players, Monday (3/3) today.

In the agenda, the IDX met with OJK and a number of market players, responding to the decline in the Composite Stock Price Index (CSPI) in the past week.

A number of entrepreneurs and important figures were observed to be present. Some of them included Garibaldi Thohir (Adaro), Franky Widjaja (Sinarmas), Salim Pangestu (Barito Group), Anindya Bakrie (Bakrie Group), Arsjad Rasjid (Indika), and Agus Projosasmito (Amman Mineral).

In today's trading, the JCI closed up 3.97% or 249.06 points to 6,519.66. In the past week, JCI fell 7.83% to its lowest level since 2021. (KR/LM)