JAKARTA. The Financial Services Authority (OJK) commissioner for capital market supervision Nurhaida is hopeful that a newly issued regulation on stock buybacks could stop the Indonesian Composite Index (IHSG) from dragging the Indonesian Stock Exchange (IDX) down further. Nurhaida said “buy backs” were allowed because the regulation also stipulated that “other conditions” included a market condition that fluctuated significantly. “It means that until the circular is revoked, ‘buy backs’ are allowed. Those that were undervalued could benefit from this advantage,” said Nurhaida on Wednesday.
OJK expects buy back to withhold drop in IHSG
JAKARTA. The Financial Services Authority (OJK) commissioner for capital market supervision Nurhaida is hopeful that a newly issued regulation on stock buybacks could stop the Indonesian Composite Index (IHSG) from dragging the Indonesian Stock Exchange (IDX) down further. Nurhaida said “buy backs” were allowed because the regulation also stipulated that “other conditions” included a market condition that fluctuated significantly. “It means that until the circular is revoked, ‘buy backs’ are allowed. Those that were undervalued could benefit from this advantage,” said Nurhaida on Wednesday.