Updated version 1 - Indonesian sovereign wealth fund Danantara stated that it has bought stocks after the market crash
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Reuters Jakarta, October 22 - The Chief Investment Officer of Indonesia's sovereign wealth fund Danantara Indonesia said on Thursday that the fund has been buying shares of companies it considers attractive, adding that several companies, including some state-owned enterprises, still have strong fundamentals.
Pandu Sjahrir made these comments at a press conference following a large-scale sell-off in the stock market last Friday after MSCI warned it might downgrade the Indonesian stock market to "standalone" market status.
He stated that Danantara is buying stocks it finds attractive and will continue to do so “as long as the price is right” and the stocks show strong potential.
“We are always profit-oriented. From a risk-reward perspective, the current situation is good,” Pandu added.
He did not disclose specific details.
After MSCI issued its warning, Indonesia's main share index .JKSE plummeted last Friday and Monday but has since rebounded, rising by over 1% as of 03:00 GMT on Thursday.
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