Jakarta, a large bustling city on the west coast of Java in Indonesia, hosts a vibrant and thriving stock exchange. Nowadays, it helps to drive and to stimulate the local economy. However, it has had a varied past. The following article provides you with an introduction to the Jakarta Stock Exchange (JSX) and to its successor, the Indonesian Stock Exchange (IDX).
The JSX opened in December 1912, under the management of a Dutch colonial government in what was known as Batavia, present day Jakarta. Both of the world wars led to long periods of closures, and it was finally re-opened in 1952 to trade the Indonesian Government Bond. In 1977, it became a more conventional exchange, run by the Capital Market Supervisory Agency. Trading Trading was fairly subdued until an opening of the market to foreign investors, and a deregulation of practices occurred between 1987-1990. As Indonesia's markets, both public and private grew, so did the capitalisation and trading figures of the exchange. Bull Run An impressive Bull Run in 1990 lifted these to unprecedented levels. Privatised on 13.07.92 under the ownership of Jakarta Exchange Incorporation, it was overseen by the Capital Market Supervisory Agency. Three years later, the exchange successfully launched the Jakarta Automated Trading System (JATS). Terrorist attack In September 2000, the exchange was a target for a terrorist attack. A car bomb parked in the basement exploded, causing a number of cars to catch fire, killing 15 people. The suffocating black smoke led to the deaths of many people taking cover in their vehicles. Sentence The following year, an Indonesian court sentenced two men to 20-year jail terms for organising the attack. The two men were members of Kopassus, Indonesia's own special forces unit. In September 2007, Jakarta Stock Exchange and Surabaya Stock Exchange merged to form the new Indonesian Stock Exchange (IDX).
The present exchange
The new Indonesian Stock Exchange (IDX) is known in Indonesian as
Bursa Efek Indonesia (BEI). The number of issuers at the exchange is 425, and the overall market capitalisation as of 01.07.11 was over $400 billion. For up-to-date stock exchange quotes, market activity and other breaking news, visit the Indonesian Stock Exchange homepage at Callcenter@idx.co.id.