11 hours ago
13
March 18, 2025 | 03:06 pm
TEMPO.CO, Jakarta - The Indonesia Stock Exchange temporarily halted stock trading in the first session on Tuesday, March 18, 2025, at 11:19:31 Jakarta Automated Trading System (JATS) time. The trading halt came as the IHSG plummeted 5.02 percent to 5,146. The transaction value in the first session reached Rp3.39 trillion, involving 13.12 billion in 748 thousand transactions. All sectors were in the red zone.
The Corporate Secretary of the Indonesia Stock Exchange (IDX), Kautsar Primadi Nurahmad, conveyed the reasons for implementing the trading halt through a written statement. "With this, we inform that today, Tuesday, March 18, 2025, a temporary trading halt (trading halt) has occurred in the trading system at the Indonesia Stock Exchange (BEI) at 11:19:31 Jakarta Automated Trading System (JATS) time, triggered by a 5 percent decrease in the Composite Stock Price Index (IHSG)."
According to an economist from the Center of Economic and Law Studies (CELIOS), Nailul Huda, the decline in stock trading has occurred since March 14, 2025. He said one of the triggers is the revision of the TNI Bill. "In fact, the cumulative effect of several recent policies, one of which is about our state budget. But it seems that the impact of this TNI bill is significant," said Huda to Tempo, on Tuesday, March 18, 2025.
He believes that the increased presence of the military and police in civilian areas will lead to confusion in law enforcement in the event of violations. According to Huda, abandoning the merit-based system will also eliminate public transparency. At this time, the entry of military force into the economic field is already visible.
An example is the position of the CEO of the State-owned Logistics Agency (Bulog) occupied by Major General Novi Helmy Prasetya, an active-duty military without a managerial or agricultural background. "The CEO of Bulog doesn't understand agricultural issues, so they will eventually force low-priced grain acquisition. Investors are concerned about this and are selling off their shares," said Huda.
He believes that military involvement like this discourages investors. "What's the point of competing with 'military' companies for non-military products? So it will have a negative impact on investors' willingness to invest," he added.
Editor's Choice: Analysts Reveal Causes of Investors' Panic Selling as IHSG Plummets Sharply
Click here to get the latest news updates from Tempo on Google News
Analysts Reveal Causes of Investors' Panic Selling as IHSG Plummets Sharply
46 menit lalu
If the foreign investor's panic selling continues, Audi warns that the IHSG has the potential to break the psychological level of 6,000.
IDX Temporarily Halts Trading as IHSG Plummets 5 Percent
1 jam lalu
A temporary trading halt has occurred at the Indonesia Stock Exchange (IDX) at 11:19:31 JATS, triggered by a 5 percent decline in the IHSG.
IHSG Plummets as All Sectoral Indices Weaken in First Trading Session
1 jam lalu
Aside from technology stocks, IHSG also faced pressure from the decline of several other stocks, including big cap duo Prajogo Pangestu's BREN and TPIA
Previously Opposed, Why Does PDIP Now Support TNI Law Revision?
2 jam lalu
PDIP now supports the discussion of the TNI law revision, despite previously being rejected by the Chairwoman Megawati.
12,000 People Sign Petition Rejecting Return of Military Dual Function through TNI Bill
5 jam lalu
Since two days after its launch, more than 12,000 people have signed the petition to reject the TNI Bill.
Civil Society Groups Denounce 'Problematic and Rushed' TNI Law Revision
15 jam lalu
KontraS, Amnesty International Indonesia, and YLBHI declared that they reject the rushed and flawed process of the TNI Law revision.
Here Is the List of Civil Posts Open for Active Soldiers in TNI Law Revision
16 jam lalu
The addition of military positions is stipulated in Article 47 paragraph (1) revision of the TNI Law.
Indonesian Prosecutors Seek Death Penalty for Three Charged with Murder of Journalist
17 jam lalu
The prosecutors in the case of the murder of journalist Rico Sempurna Pasaribu and his family are seeking the death penalty for the alleged killers.
KontraS Reportedly Terrorized After TNI Law Protest, House Speaker: File Police Report
20 jam lalu
Sufmi Dasco did not say much about the alleged terror experienced by KontraS after disrupting the closed meeting discussing TNI Law revision.
Palace Disapproves of TNI Bill Meeting Disruption: Democracy Has Limits
23 jam lalu
In response to the polemic over the revision of TNI Law, the palace is urging the public not to go overboard in practicing democracy.
