October 12, 2025 | 12:48 pm
TEMPO.CO, Jakarta - Indonesian Finance Minister Purbaya Yudhi Sadewa has requested the Indonesia Stock Exchange (BEI) to regulate stocks whose movements are manipulated or known as 'gorengan' stocks. Should this step be successful, he will provide incentives to support the growth of the capital market in Indonesia.
This statement was first revealed by Purbaya after a dialogue with the President Director of the Indonesia Stock Exchange (BEI) Iman Rachman and the Chair of the Financial Services Authority Board (OJK) Mahendra Siregar at the BEI building in Jakarta on Thursday morning, October 9, 2025. "So I said I will provide incentives if you (Stock Exchange) can tidy up the behavior of investors in the capital market. Meaning that the manipulation will be controlled, so that small investors are protected, only then will I consider the incentives," he said.
The former Chair of the LPS Board did not explain in detail what incentives will be given. He stated that there are several incentives requested by the President Director of BEI, one of which is tax-related. Purbaya guarantees that if BEI is able to improve the condition of the capital market, he will comply with the provision of such incentives.
He has also requested OJK and BEI to sanction capital market players who engage in stock manipulation practices. According to Purbaya, this step is important to create a healthy, transparent, and trustworthy capital market. He hopes that the process of cleaning up the capital market from speculative practices can be completed within the next year.
"If for a year it's just cleaning up, while I can see that stocks are being manipulated. I do observe the stock market too, someone is doing some manipulation, and I know some of the players," Purbaya said through a video conference in the media gathering event of the Ministry of Finance in Bogor, West Java, on Friday, October 10, 2025.
Purbaya considers the practice of 'stock manipulation' not only detrimental to small investors but also has the potential to erode the interest of the younger generation in investing. He stated that currently, about 50 percent of investors in the capital market are from the younger generation, so their trust must be maintained.
"If that is not cleaned, the interest of Gen Z or the young people who are investing in the capital market can disappear, because 50 percent are young people. If that is lost, then our capital market cannot grow anymore," he said.
Nandito Putra contributed to the writing of this article.
Editor’s Choice: Indonesia Cracks Down on Thousands of Tax Evaders, Says Finance Ministry
Click here to get the latest news updates from Tempo on Google News
Indonesian Government Issues USD1.85 Billion and EUR600 Million in Global Bonds
1 jam lalu
The issuance of these global bonds was conducted in two foreign currencies: the United States dollar and the euro, in an SEC-registered format.
What Coach Patrick Kluivert Said After Indonesia Failed to Reach the 2026 World Cup
1 jam lalu
Indonesian national team coach Patrick Kluivert failed to lead his team to qualify for the 2026 World Cup. What does he have to say about this?
OJK Reports Slower Growth in Indonesia's Commercial Bank Credit Distribution
1 jam lalu
OJK records the largest portion of credit distribution by Indonesian commercial banks to non-business household sectors at 23.54 percent.
Indonesia's World Cup Hopes Lost: National Team Played Better Against Iraq Than Against Saudi Arabia
3 jam lalu
Football observer, Mohamad Kusnaeni, assessed that the Indonesian national team played better against Iraq than when they faced Saudi Arabia.
Police School Proposes Use of Body-Worn Cameras for Field Personnel
5 jam lalu
School of Police Science (STIK) is advocating for the use of body-worn cameras by the Indonesian National Police (Polri) personnel on field duty.
Indonesia Cracks Down on Thousands of Tax Evaders, Says Finance Ministry
17 jam lalu
Finance Minister Purbaya Yudhi Sadewa previously said the government will pursue and collect taxes from 200 major taxpayers.
Indonesia vs Iraq Head-to-Head: Poor Record Still Haunts Garuda
23 jam lalu
The match between Indonesia and Iraq will take place in the fourth round of the 2026 World Cup qualifiers.
2026 World Cup Qualifiers: Indonesia vs Iraq Live Broadcast Schedule
1 hari lalu
For the Garuda team, the Indonesia vs Iraq match is a matter of life and death if they want to reach the 2026 World Cup.
Toyota Hits 3 Million Car Exports, Aims to Make Indonesia a Regional Research Hub
1 hari lalu
Agus Gumiwang estimates that the automotive industry has an additional impact of Rp804 trillion on the upstream and downstream sectors.
Today's Top 3 News: Finance Minister to Distribute Rp200 Trillion Remaining from State Banks to Regional Banks
1 hari lalu
Here is the list of the top 3 news on Tempo English today.
