Jakarta – Concerns are mounting over persistent manipulative trading practices in the Indonesian stock market, as Finance Minister purbaya Yudhi Sadewa publicly questioned the lack of enforcement action against “pump and dump” schemes. The Minister’s remarks, made Thursday, signal growing frustration within the government over stalled efforts to protect investors and maintain market stability in Southeast Asia’s largest economy[[2]]. The absence of arrests has jeopardized potential incentives for the Indonesia Stock Exchange (IDX) aimed at bolstering market integrity.
Jakarta –
Indonesia’s Finance Minister Purbaya Yudhi Sadewa has voiced concerns regarding ongoing “pump and dump” schemes in the Indonesian stock market, noting that no perpetrators have yet been apprehended.
Minister Sadewa previously indicated a willingness to offer incentives to the capital markets contingent on the cessation of such manipulative trading practices. As a result, those incentives remain unavailable.
“I haven’t seen any arrests of those involved in these pump-and-dump schemes. Are there any?” he questioned on Thursday, November 20, 2025, at an event held at The Westin, Jakarta.
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According to Minister Sadewa, the government will consider offering incentives if the Indonesia Stock Exchange (IDX) addresses the issue. The specifics of any such incentives, however, remain under discussion.
“The details will be discussed, as the issue hasn’t been resolved yet. We’ll see what can be done,” Sadewa stated.
The Financial Services Authority (OJK) has announced it will closely monitor activity in the capital markets following Minister Sadewa’s call for the IDX to address the problem of “pump and dump” stocks.
Inarno Djajadi, Head of the OJK’s Capital Market Supervision, Derivatives Finance, and Carbon Exchange, emphasized the importance of consumer and investor protection in maintaining market integrity. He added that this aligns with the Minister’s concerns.
“In line with the message from the Minister of Finance delivered during a dialogue with the capital market last week, Mr. Purbaya stressed the importance of increasing public trust in the capital market. This includes ensuring that market transactions run fairly, orderly, and efficiently,” Inarno said during a speech at the Main Hall of the IDX in Jakarta on Friday, October 17, 2025.
(ily/hns)
