JCI Closes Higher on Monday Despite Collapse of Floor in IDX Building

Jakarta Globe, Sarah Yuniarni, January 15, 2018

The Jakarta Composite Index closed higher on Monday, bouncing back from
Friday despite the collapse of a mezzanine floor in the Indonesia Stock Exchange
building, shortly after the end of the day's first trading session. (JG Photo/Yudha Baskoro)

Jakarta. Indonesia's benchmark stock index closed higher on Monday (15/01), bouncing back from Friday despite the collapse of a mezzanine floor at the local bourse in Jakarta, shortly after the end of the day's first trading session.

The Jakarta Composite Index (JCI) closed 0.19 percent higher at 6,382.

Nafan Aji, an analyst at brokerage firm Binaartha Sekuritas, said the JCI opened higher at 6,379 on Monday due to strong gains in Asian stocks, spurred by an improvement in global commodity prices.

The index reached 6,389 at around 10 a.m., but dropped during the second session.

"The country's index weakened slightly during the second trading session, likely due to negative sentiment from a deficit in Indonesia's trade balance, and the collapse of a first-floor corridor in the Indonesia Stock Exchange [IDX] building, but it bounced back and [still] closed higher than Friday," Nafan said.

Indonesia recorded a $270 million trade deficit in December, but the country still had a cumulative $11.84 billion trade surplus for 2017, Central Statistics Agency (BPS) data shows.

Foreign investors, who accounted for 37 percent of Monday's trading, bought Rp 1.96 trillion ($147.4 million) more in shares than they sold, while local investors sold Rp 1.96 trillion more than they bought.

Some indexes rose during Monday's trading, led by a 1.53 percent gain in the one that tracks mining stocks, including Vale Indonesia and Medco Energi Internasional.

The index that tracks financial stocks, including Bank Mandiri and Bank Central Asia, gained 0.67 percent.

Gainers beat decliners by 168 to 175 on Monday.

IDX Floor Collapse

At least 77 people were injured when a mezzanine floor in the second tower of the IDX building collapsed shortly after 12 p.m. on Monday.

The tower, which is also home to the offices of the World Bank, International Finance Corporation, property consultants and several local lenders, was built in 1998.

The IDX said in a statement that the building management was still investigating the cause of the incident. Police have ruled out an explosion as the cause.

The second trading session started at 1:30 p.m. as normal, despite the incident.

The collapse of a mezzanine floor of the Indonesia Stock Exchange (IDX) building 

on Monday (15/01) was not caused by a bomb. (Antara Photo/Elo)

Related Article:

Building Collapse Injures 77 at Indonesia Stock Exchange, Bomb Ruled Out
Floor Collapses at Indonesia Stock Exchange Building

Indonesia, Netherlands to Boost Cooperation on Rule of Law, Security

Jakarta Globe, Sheany, January 15, 2018

Indonesia and the Netherlands will discuss ways to further strengthen bilateral
cooperation on the rule of law and security during a meeting in Jakarta this week
 involving key representatives of the two countries, the Dutch Embassy said on
Monday (15/01). (Antara Photo/Rosa Panggabean) 

Jakarta. Indonesia and the Netherlands will discuss ways to further strengthen bilateral cooperation on the rule of law and security during a meeting in Jakarta this week involving key representatives of the two countries, the Dutch Embassy said on Monday (15/01).

Indonesia and the Netherlands have over several years forged cooperation in these fields in various ways, including capacity building for new judges, joint research, technical training and exchanges, according to a statement issued by the embassy.

The meeting, titled 2018 Indonesia-Netherlands Rule of Law and Security Update, will take place on Wednesday and Thursday.

It seeks to highlight what the two countries have achieved together, but also identify ways "to further strengthen and develop mutual collaboration for the years to come."

National Development Planning Minister Bambang Brodjonegoro, Marine Affairs and Fisheries Minister Susi Pudjiastuti, Supreme Court Chief Justice Hatta Ali and Maarten Feteris, president of the Dutch Supreme Court, will participate in the meeting, which will also be attended by representatives from government, academia, civil society and independent state institutions in both countries.

According to Hatta, collaboration between Indonesia and the Netherlands is both important and strategic, especially since their legal systems share common roots. In addition, an equal partnership will also be necessary to improve the quality and effectiveness of Indonesia's judicial system.

Indonesia was colonized by the Dutch for more than 300 years and the country therefore has the same legal system, with some laws dating back to the colonial era.