Do Prabowo's Speeches Really Affect the Stock Market? OJK Responds
Do Prabowo’s Speeches Really Affect the Stock Market? OJK Responds
Translator
Anastasya Lavenia Yudi
Editor
Bardjan
Rabu, 1 Juli 2026 10:58 WIB
TEMPO.CO, Jakarta – Indonesia’s Financial Services Authority (OJK) has responded to online speculation linking President Prabowo Subianto’s public speeches to movements in the country’s benchmark stock index, the Jakarta Composite Index (JCI).
Hasan Fawzi, OJK’s Executive Head of Capital Market Supervision, Financial Derivatives, and Carbon Exchange, declined to comment directly on the speculation.
However, he urged investors to remain rational and base investment decisions on company fundamentals rather than market rumors.
“In dynamic market conditions, many factors influence stock price movements. But ultimately, behind every four-letter stock ticker is a company with real operational and business activities,” Hasan told reporters at the Indonesia Stock Exchange on Tuesday, June 30.
Hasan noted that all listed companies regularly publish financial statements and disclose corporate actions, providing investors with reliable information to assess a company’s operational performance and the value of its shares.
He also encouraged investors not to rely solely on social media content when making investment decisions. Instead, he pointed to educational content from analysts and market commentators who explain company fundamentals, technical indicators, and financial reports.
“I think it is better to use those as references rather than things that are irrational or not directly related to the normal operations of listed companies,” he said.
Speculation linking Prabowo’s speeches to JCI performance gained traction after a schedule of the president’s planned public appearances throughout July 2026 circulated widely on social media.
An image shared by the Instagram account @stockalpha.id claimed that Prabowo is scheduled to deliver 13 speeches during the month, prompting online discussions about their potential impact on the stock market.
What Is the Analyst Saying?
Meanwhile, Bhima Yudhistira, Executive Director of the Center of Economic and Law Studies, said the president’s public remarks can influence market confidence.
According to Bhima, investors become more cautious when policy directions appear to shift following presidential speeches, making it more difficult to assess risks.
Over time, he warned, such uncertainty could weaken confidence in the government’s economic management.
“When policies change simply because of Prabowo’s speech, this creates uncertainty and increases the cost of doing business,” Bhima said on Monday, June 29.
Dian Rahma Fika Alnina contributed to the writing of this article.
Read: JCI Falls 1.28%, What Are the Projections for This Week?
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