Illustration of stock price movements (THINKSTOCKS)
The Indonesia Stock Exchange (IDX) states that there are 41 shares that are indicated as fried or low quality shares. Regarding this matter, IDX firmly conducts strict supervision.
“That fried food, which is called public, is a stock with high volatility that is not supported by adequate fundamentals and information, so far we have taken action. All will not pass,” said Transaction and Compliance Supervision Director Kristian S. Manullang at IDX Central Jakarta , Friday (01/10/2020).
Even though there are 41 fried foods, IDX is still reluctant to describe what shares are included in the fried foods category.
Kris explained, if there were suspicious upheavals, the IDX would immediately take steps to prevent and supervise. This is true for all sectors of the LQ 45 leading stock increase or outside LQ 45.
“If there is indeed such turmoil, both LQ 45 or outside it. We take the same and consistent actions. So we take precautionary measures in our role as a stock exchange,” he explained.
The prevention efforts are by asking for clarity in terms of information, market activity, suspensions and requests for public expose insidential to delete the listing from the exchange.
Kris also said that identifying fried foods is not difficult. He also firmly stated that shares that were violated by the Capital Market Law would be investigated.
“If there are indications of violating capital market laws, of course we will coordinate with the OJK to conduct further investigations and checks,” he said.
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