Stock market continuous decline triggers shock, top financial regulators in Indonesia collectively resign.

On January 30th local time, due to the sharp decline of the Jakarta Composite Index for two consecutive days, the senior management of the Indonesian Financial Services Authority collectively resigned. It is understood that the chairman of the supervisory board of the agency, Siregar, the head of capital markets and derivatives regulation, Jajadi, and the deputy commissioner responsible for issuer and securities trading affairs, Jayantara, have all resigned. The agency stated that this resignation was not due to institutional errors, but rather out of a sense of responsibility to maintain market confidence. Siregar stated that the resignation was an important step to fulfill moral obligations and to revitalize the stock market, and that relevant procedures will be handled in accordance with regulations to ensure that regulatory functions are not affected. To prevent further market fluctuations, the agency has activated a temporary governance mechanism, with existing commissioners carrying out relevant duties, and reiterating their commitment to transparency and accountability principles.