China axes 15 coal plants abroad after Xi pledge, but loopholes remain: study

Yahoo – AFP, April 22, 2022 

China has vowed to become carbon-neutral by 2060, but its emissions pledges do not
cover fossil-fuel investments abroad (AFP/JOHANNES EISELE) (JOHANNES EISELE) 

More than a dozen Chinese coal power projects overseas were cancelled after a ban last year on funding such plants, but loopholes could allow 18 others to still go ahead, according to a study published Friday. 

China is the world's biggest emitter of the greenhouse gases driving global warming. It has vowed to peak carbon emissions by 2030 and become carbon-neutral by 2060, but these do not include its fossil-fuel investments abroad. 

It is also the largest public funder of overseas coal plants, and was planning to build 67 in more than a dozen countries when President Xi Jinping announced a ban on financing "new projects" in September. 

Since then, Chinese developers have cancelled 15 overseas coal projects as funding dried up and host countries demanded greener alternatives, a study by the Helsinki-based Centre for Research on Energy and Clean Air (CREA) said. 

The cancelled projects would have generated 12.8 gigawatts of electricity -- or the total power generation capacity in Singapore, the think tank added. 

But a lack of clear rules has allowed Chinese developers to continue to build new coal power projects, it warned. 

"The key concern is that China will continue to fund or build new coal projects to power industrial parks under the Belt and Road Initiative," said Isabella Suarez, a researcher at CREA, referring to Xi's $1 trillion global infrastructure push. 

"The loophole is that because the industrial parks have been years in the making, additional coal on these projects would not be considered new, even if... tenders are happening after the pledge to ban coal funding." 

Deadly impact 

China's top economic planner issued vague guidelines in March, telling developers to "proceed cautiously" on coal plants that were in the final stages of planning. 

These could potentially stop Chinese funding for 32 planned coal plants and prompt the "reexamination" of 36 others that are under way, according to the CREA report. 

However, "about 18 coal projects (in the pipeline) that can generate 19.2 Gigawatts of power have already secured financing and permits... and could still go ahead," Suarez said. 

AFP has sought comment on the report from the National Development and Reform Commission, China's economic planner. 

Most of these projects are in Indonesia, where China is investing billions to mine nickel and other minerals needed to build electric vehicles, according to data from the Global Energy Monitor. 

Vietnam and Bangladesh have in recent months requested China to build gas projects instead of the agreed coal projects, according to government notices. 

The deadly impact of climate change -- from extreme heatwaves to more intense superstorms -- is already being felt across the world. 

Experts say emissions must be halved within a decade to limit global warming to well below 2 degrees Celsius (36 degrees Fahrenheit) or ideally to 1.5C as stated in the Paris climate accord. 

Japan to limit financing of overseas coal power plants

Yahoo – AFP, Natsuko FUKUE, July 9, 2020

Protesters wearing masks of world leaders including Japanese Prime Minister
Shinzo Abe demonstrated against climate change and coal during the G20 summit in
Osaka in June 2019 (AFP Photo/Pak YIU)

Japan said Thursday it would tighten rules for investment in foreign coal-fired power stations on environmental grounds, but stopped short of ending government funding for projects.

The move comes with the world's third-largest economy under fire for financing projects to build coal plants at home and abroad -- notably in Southeast Asia.

Economy, Trade and Industry Minister Hiroshi Kajiyama told reporters the government "has decided to tighten" the rules for supporting investment.

Countries seeking investment would be required to change their "behaviour" towards decarbonisation, Kajiyama said, but added that the new policy was not about cutting back funding.

"There are developing nations in the world that can only choose coal as an energy source," he said.

Further details were not immediately available.

The government currently provides funding to Japanese companies if their projects meet certain criteria -- such as when a foreign country has no options but to choose coal due to economic reasons.

Major decision

The Global Energy Monitor watchdog said last year that Japan accounted for over US$4.8 billion in financing for coal power plants abroad -- particularly in Indonesia, Vietnam and Bangladesh.

Kimiko Hirata, international director of the environmental NGO Kiko Network, said the new investment decision was a "major decision."

"The coal-fired power stations were the pillar of infrastructure exports for Japan," she told AFP.

But Greenpeace criticised the decision as falling short, saying it showed "no clear policy".

Last week, the government promised to study ways of phasing out older, more polluting coal-fired power stations by 2030, following reports it plans to mothball around 100 ageing plants.

Japan has some 140 coal-fired power stations, providing nearly one-third of the nation's total electricity generation, and second only to LNG-fired plants.

But there are more than a dozen projects underway to build more plants -- despite efforts to phase them out in many other parts of the world.

The appetite for coal-fired plants increased significantly after the Fukushima nuclear power plant accident following the 2011 tsunami.

Japan wants nearly a quarter of its energy needs to be met by renewable sources -- including wind and solar -- by 2030, a figure critics describe as unambitious based on current levels of around 17 percent.

Thousands in shelters as Indonesia flood death toll hits 60

Yahoo – AFP, Haeril HALIM, Ganis Bungsu, January 4, 2020

Indonesian villagers use inner tubes to deliver supplies across a river at Banjar
Irigasi in Lebak, Banten province (AFP Photo/SAMMY)

Jakarta (AFP) - Indonesian rescue teams flew helicopters stuffed with food to remote flood-hit communities on Saturday as the death toll from the disaster jumped to 60 and fears grew about the possibility of more torrential rain.

Tens of thousands in Jakarta were still unable to return to their waterlogged homes after some of the deadliest flooding in years hit the enormous capital region, home to about 30 million.

In neighbouring Lebak, where half a dozen people died, police and military personnel dropped boxes of instant noodles and other supplies into remote communities inaccessible by road after bridges were destroyed.

"It's tough to get supplies in there... and there are about a dozen places hit by landslides," Tomsi Tohir -- the police chief of Banten province, where Lebak is located -- told AFP.

"That is why we're using helicopters although there aren't any landing spots."

Local health centre chief Suripto, who goes by one name, said injured residents were flowing into his clinic.

"Some of them were wounded after they were swept away by floods and hit with wood and rocks," he said.

Around Jakarta, more than 170,000 people took refuge in shelters across the massive urban conglomeration after whole neighbourhoods were submerged.

Map of Jakarta showing the areas affected by flooding (AFP Photo)

Torrential rains that started on New Year's Eve unleashed flash floods and landslides.

Indonesia’s disaster mitigation agency said on Saturday that two people were also killed after flash floods and landslides hit a village in North Sulawesi on Friday.

The agency said Saturday the total death toll had climbed to 60 with two people still missing.

"We've discovered more dead bodies," said National Disaster Mitigation Agency spokesman Agus Wibowo.

'Trauma healing'

Jakarta shelters filled up with refugees, including infants, resting on thin mats as food and drinking water ran low.

Some had been reduced to using floodwater for cleaning.

"We're cleaning ourselves in a nearby church but the time has been limited since it uses an electric generator for power," said Trima Kanti, 39, from one refuge in Jakarta's western edges.

In hard-hit Bekasi, on the eastern outskirts of Jakarta, swamped streets were littered with debris and crushed cars lying on top of each other -- with waterline marks reaching as high as the second floors of buildings.

People wait to get fresh water from a truck in their flood affected village in Bekasi, 

West Java (AFP Photo/REZAS)

On Friday, the government said it would start cloud seeding to the west of the capital -- inducing rain using chemicals sprayed from planes -- in the hope of preventing more rain reaching the city region.

Water has receded in many areas and power was being restored in hundreds of districts.

The health ministry has said it had deployed some 11,000 health workers and soldiers to distribute medicine, disinfectant hygiene kits and food in a bid to stave off outbreaks of Hepatitis A, mosquito-borne Dengue fever and other illnesses, including infections linked to contact with dead animals.

Visiting hard-hit Lebak, Coordinating Human Development and Culture Minister Muhadjir Effendy said the government would help rebuild destroyed schools and construct temporary bridges, while offering assistance to victims.

"We're also asking for NGOs (non-governmental organisations) to help with trauma healing," Muhadjir told reporters on Saturday.

Electrocution, drowning

Around Jakarta, a family -- including a four- and nine-year-old -- died of suspected gas poisoning from a portable power generator, while an eight-year-old boy was killed in a landslide.

Indonesia's disaster agency said the death toll from the heavy flooding had 

climbed to 60 (AFP Photo/BAY ISMOYO)

Others died from drowning or hypothermia, while one 16-year-old boy was electrocuted by a power line.

Jakarta is regularly hit by floods during the rainy season, which started in late November.

But this week marked Jakarta's deadliest flooding since 2013 when dozens were killed after the city was inundated by monsoon rains.

Urban planning experts said the disaster was partly due to record rainfall.

But Jakarta's myriad infrastructure problems, including poor drainage and rampant overdevelopment, have worsened the situation, they said.

Indonesian President Joko Widodo has announced a plan to move the country's capital to Borneo island to take pressure off Jakarta, which suffers from some of the world's worst traffic jams and is fast sinking due to excessive groundwater extraction.)

Dutch inventors roll out river plastic clean-up barge

Yahoo – AFP, October 26, 2019

The model on display was the fourth to be built and is due to be sent to
the Dominican Republic (AFP Photo/Robin UTRECHT)

The Hague (AFP) - A Dutch non-profit group committed to ridding the world's waters of plastic, Saturday unveiled their latest invention, a floating garbage-collection barge called "The Interceptor".

It is built by The Ocean Cleanup, who say it will "close the tap" on the greatest source of garbage reaching the oceans: rivers.

The barge, which will be anchored in polluted rivers, is capable of scooping up to 50 tonnes of garbage per day floating downstream, said its inventor, 25-year-old Boyan Slat.

"Under the right conditions we think it could even achieve double that," said Slat, who is the CEO and founder of The Ocean Cleanup.

"The Interceptor" resembles a large houseboat attached to a curved barrier. It is 24 metres (78 feet) long, solar-driven, fully autonomous and able to collect plastic in rivers around the clock, Slat said.

Placed at strategic positions in a river system, its barrier directs plastic to the waiting "mouth" of the barge, from where it rolls up a conveyor belt and is dumped into one of six dumpsters.

The barge has a capacity to carry 50 cubic metres of waste plastic, the equivalent of 271,000 Rubik's cubes, said Slat.

Once full, an onboard computer sends a message to local operators to pull out the dumpsters and empty them "as easily as you would clean your vacuum," Slat said at the unveiling of the machine.

The project will tackle 1,000 of the most polluting rivers in the world "within five years", which contribute to 80 percent of global plastic pollution, he added.

Two of the machines are already up and running: one in Jakarta, Indonesia, and another in Malaysia. A third is being prepared for deployment in Vietnam.

Slat used a fourth Interceptor for the presentation in the port city of Rotterdam's harbour on Saturday. This one will be sent to the Dominican Republic, he said.

Earlier this month, The Ocean Cleanup announced that a special ship designed to clean the world's oceans had harvested its first plastic from the Great Pacific Garbage Patch.

The Interceptor at work in Malaysia. Photo: The Ocean CleanUp

Related Articles:

Boyan Slat launches new project to clean up plastic in rivers

“Afraid of Love” + “What’s Wrong Today”, Laguna Hills, California, US(2), Dec 9, 2018 (Kryon Channelling by Lee Carroll)

• Stagnation of the current US Politics: Compassioned (US) leaders will arise in the future
• Shortage of fresh/drinking water: Invention to make salt from salt water magnetic and remove it with water desalination process in high volumes
• Pollution on Earth: 1 - Stop killing the environment! / 2 - The rise of temperature on Earth is “temporary” and is part of the "regular" Watercycle.
• Replacement of current fossil energy source: Use of magnetics based (small/big) engines to produces electricity / free energy
• Plastic pollution in the oceans: Invention to remove the plastics gradually from the oceans

Ocean Cleanup move to the Pacific, ‘a milestone’ says Dutch inventor

Photo: The Ocean Cleanup

Indonesia picks Borneo island for new capital

Yahoo – AFP, August 26, 2019

Indonesia wants to move its capital from congested Jakarta to a new
purpose-built city in east Kalimantan (AFP Photo/BAY ISMOYO)

Indonesia will move its capital to the eastern edge of jungle-clad Borneo island, President Joko Widodo said Monday, as the country shifts its political heart away from congested and sinking megalopolis Jakarta.

The proposed location -- near the regional cities of Balikpapan and Samarinda -- is an area at "minimal" risk of natural disasters, where the government already owns some 180,000 hectares (445,000 acres) of land, he added.

"The location is very strategic -- it's in the centre of Indonesia and close to urban areas," Widodo said in a televised speech.

"The burden Jakarta is holding right now is too heavy as the centre of governance, business, finance, trade and services," he added.

The announcement ends months of speculation about whether Widodo would follow through on the long-mooted plan -- it was floated by the newly independent country's founding father Sukarno more than half a century ago.

Map of Indonesia showing approximate area of the proposed 

site of the country's new capital. (AFP Photo/AFP)

Shifting from problem-plagued Jakarta would also transfer Indonesia's power base off Java island, where about half of the sprawling archipelago's 260 million people live.

"Moving the capital off Java is a gesture that aims to solidify unity," said Jakarta-based political risk analyst Kevin O'Rourke.

"Jakarta will continue to be a megacity -- as a centre for finance and commerce -- for a few more decades, but ultimately it is at severe risk to climate change," he added.

A bill for the proposed move will now be presented to parliament, Widodo said.

Building is set to begin next year with the move of some 1.5 million civil servants slated to begin by 2024, at a cost of 466 trillion rupiah ($33 billion), officials said.

Orangutans, mining

Known as Kalimantan, Indonesia's section of Borneo -- the island it shares with Malaysia and Brunei -- is home to major mining activities as well as rainforests, and is one of the few places on Earth with orangutans in their natural habitat.

The area around Samboja, Kutai Kartanegara, is one of two locations in 

Eastern Kalimantan chosen as a possible site for the new capital (AFP Photo/

Fachmi RACHMAN)

Environmentalists expressed concerns the capital city move could threaten endangered species.

"The government must make sure that the new capital is not built in a conservation or protected area," said Greenpeace Indonesia campaigner Jasmine Putri.

The region has also been blanketed in choking haze from annual forest fires that ravage vast swathes of land.

"That makes Kalimantan unfit as a candidate for a new capital city," said Jakarta-based urban planning expert Nirwono Joga.

"And the move won't necessarily free Jakarta of problems like flooding, traffic jams and rapid urbanisation," he added.

Map showing the tidal inundation of Jakarta in 2012 and projected 

expansion in 2025 and 2050. (AFP Photo/Janis LATVELS)

Concerns have soared over the future of Jakarta -- a city nicknamed "the Big Durian" after the pungent, spiky fruit that deeply divides fans and detractors.

Built on swampland, the city is one of the fastest-sinking cities on earth, with experts warning that one third of it could be submerged by 2050 if current rates continue. The problem is largely linked to excessive groundwater extraction.

But the city of 10 million -- a number that bloats to about 30 million with surrounding satellite cities -- is also plagued by a host of other ills, from eye-watering traffic jams and pollution to the risk of earthquakes and floods.

Indonesia is not the first Southeast Asian country to move its capital.

Myanmar and Malaysia have both moved their seat of government, while Brazil, Pakistan and Nigeria are among the nations that have also shifted their capital cities.

Indonesia eyes moving capital from congested Jakarta

Yahoo – AFP, April 29, 2019

Jakarta is home to some 30 million people and is also one of the world's fastest
sinking cities due to excessive groundwater extraction (AFP Photo/ADEK BERRY)

Jakarta (AFP) - Indonesia is considering a plan to move its capital away from sprawling megalopolis Jakarta, officials said Monday, but any jump to a new city could still be years away.

The idea of moving Indonesia's seat of government from an urban conglomeration of nearly 30 million people with some of the world's worst traffic jams has stretched on for decades.

Low-lying Jakarta is also prone to annual flooding and is one of the world's fastest sinking cities due to excessive groundwater extraction.

On Monday, urban planning minister Bambang Brodjonegoro said the long-stalled relocation plan won approval from President Joko Widodo who favoured moving the capital away from Indonesia's most populous Java island.

Jakarta, which suffers billions of dollars in annual congestion-and-flood linked economic losses, would remain the country's financial hub.

"(Widodo) decided on ... the option to relocate the capital," Brodjonegoro said after a cabinet meeting.

In a statement before the meeting, Widodo expressed support for the idea, but he did not give an alternate location or a timeline for any move.

"In the future, would Jakarta be able to carry the double burden of being both the centre of government and its business centre?" he asked in the statement.

"If we prepare well from the very beginning, this great (relocation) idea could be realised," he added.

During his re-election campaign, Widodo pledged to spread economic growth more evenly in the nation of 260 million.

He won a second term this month, according to unofficial poll results.

Local media have reported that a possible new capital would be Palangkaraya city on the island of Borneo.

Dutch civil engineering group BAM buys majority stake in Tidal Bridge

DutchNews, May 29, 2018

Illustration: Tidal Bridge

Building group BAM has acquired the majority stake in Tidal Bridge of Eindhoven from construction company Strukton, BAM said in a statement on Tuesday. Financial terms were not disclosed. 

Tidal Bridge designs and builds floating bridges equipped with tidal turbines which generate power. The turbines are powered by the ebb and flow of the tide. 

Tidal bridges are ideal in remote areas where they can serve as stand-alone power plants. The company is active in Indonesia, a country of 17,000 islands, most of them requiring electricity plants. 

Tidal Bridge started a feasibility study last year for the construction of a $225-million floating bridge on the Indonesian island of Flores known as the Palmerah Tidal Bridge project. Turbines beneath the bridge will generate up to 30 megawatts from the tidal movements, providing electricity for over 100,000 people in the region. 

The share transfer is related to a strategic decision by Strukton to discontinue its activities in the Indonesian market. 

BAM International, which has been active as a construction and infrastructure contractor in Indonesia since 1970, is seen as the ideal partner for the realisation of the Palmerah Tidal Bridge project as well as the international dissemination of the Tidal Bridge concept, the Financieele Dagblad said.

Related Articles:

Dutch firm to help build world’s biggest tidal energy plant

"Recalibration of Free Choice"– Mar 3, 2012 (Kryon Channelling by Lee Caroll) - (Subjects: (Old) Souls, Midpoint on 21-12-2012, Shift of Human Consciousness, Black & White vs. Color, 1 - Spirituality (Religions) shifting, Loose a Pope “soon”, 2 - Humans will change react to drama, 3 - Civilizations/Population on Earth, 4 - Alternate energy sources (Geothermal, Tidal (Paddle wheels), Wind), 5 – Financials Institutes/concepts will change (Integrity – Ethical) , 6 - News/Media/TV to change, 7 – Big Pharmaceutical company will collapse “soon”, (Keep people sick), (Integrity – Ethical) 8 – Wars will be over on Earth, Global Unity, … etc.) - (Text version)

“… 4 - Energy (again)

The natural resources of the planet are finite and will not support the continuation of what you've been doing. We've been saying this for a decade. Watch for increased science and increased funding for alternate ways of creating electricity (finally). Watch for the very companies who have the most to lose being the ones who fund it. It is the beginning of a full realization that a change of thinking is at hand. You can take things from Gaia that are energy, instead of physical resources. We speak yet; again about geothermal, about tidal, about wind. Again, we plead with you not to over-engineer this. For one of the things that Human Beings do in a technological age is to over-engineer simple things. Look at nuclear - the most over-engineered and expensive steam engine in existence!

Your current ideas of capturing energy from tidal and wave motion don't have to be technical marvels. Think paddle wheel on a pier with waves, which will create energy in both directions [waves coming and going] tied to a generator that can power dozens of neighborhoods, not full cities. Think simple and decentralize the idea of utilities. The same goes for wind and geothermal. Think of utilities for groups of homes in a cluster. You won't have a grid failure if there is no grid. This is the way of the future, and you'll be more inclined to have it sooner than later if you do this, and it won't cost as much…

Water

We've told you that one of the greatest natural resources of the planet, which is going to shift and change and be mysterious to you, is fresh water. It's going to be the next gold, dear ones. So, we have also given you some hints and examples and again we plead: Even before the potentials of running out of it, learn how to desalinate water in real time without heat. It's there, it's doable, and some already have it in the lab. This will create inexpensive fresh water for the planet. 

There is a change of attitude that is starting to occur. Slowly you're starting to see it and the only thing getting in the way of it are those companies with the big money who currently have the old system. That's starting to change as well. For the big money always wants to invest in what it knows is coming next, but it wants to create what is coming next within the framework of what it has "on the shelf." What is on the shelf is oil, coal, dams, and non-renewable resource usage. It hasn't changed much in the last 100 years, has it? Now you will see a change of free choice. You're going to see decisions made in the boardrooms that would have curled the toes of those two generations ago. Now "the worst thing they could do" might become "the best thing they could do." That, dear ones, is a change of free choice concept. When the thinkers of tomorrow see options that were never options before, that is a shift. That was number four.”

"A Summary" – Apr 2, 2011 (Kryon channeled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - (Text version)

“... Japan

Let us talk for a moment about Japan, and then I'll close the day of messages. There are thousands of souls on my side of the veil and they're just fine, more than fine. We have spoken so often of what happens at the Wind of Birth. I told you, before they even came in, they saw the potential. I looked in their eyes. "You may not last long. You know that, don't you? You're coming into this planet and you may not be here very long. And the passing that you will have with your family will not be pleasant, if any ever are. Why would you come in anyway?" I want to tell you what they said. When a soul has the mind of God, it understands fully what generates peace and what generates energy shift. You can clearly see what generates what the planet needs the most when you are about to arrive. So they said, "We're going to be part of one of the biggest compassion events the planet has ever seen." One earthquake, one tsunami. All of those who left that day will change the earth forever. And it already has. It was the same for the last tsunami as well.

Every single one of them on my side of the veil is getting ready to come back. Many old souls were involved, and just for a moment, if they could give you any information, if they could talk to you right now, if they could speak your language and look into your eyes, they would thank you for your compassion for them and those who are left. And they would say, "Be with those family members who are still alive. Enter their hearts every day and give them peace and keep them from crying, because we're OK."

Nuclear Power Revealed

So let me tell you what else they did. They just showed you what's wrong with nuclear power. "Safe to the maximum," they said. "Our devices are strong and cannot fail." But they did. They are no match for Gaia.

It seems that for more than 20 years, every single time we sit in the chair and speak of electric power, we tell you that hundreds of thousands of tons of push/pull energy on a regular schedule is available to you. It is moon-driven, forever. It can make all of the electricity for all of the cities on your planet, no matter how much you use. There's no environmental impact at all. Use the power of the tides, the oceans, the waves in clever ways. Use them in a bigger way than any designer has ever put together yet, to power your cities. The largest cities on your planet are on the coasts, and that's where the power source is. Hydro is the answer. It's not dangerous. You've ignored it because it seems harder to engineer and it's not in a controlled environment. Yet, you've chosen to build one of the most complex and dangerous steam engines on Earth - nuclear power.

We also have indicated that all you have to do is dig down deep enough and the planet will give you heat. It's right below the surface, not too far away all the time. You'll have a Gaia steam engine that way, too. There's no danger at all and you don't have to dig that far. All you have to do is heat fluid, and there are some fluids that boil far faster than water. So we say it again and again. Maybe this will show you what's wrong with what you've been doing, and this will turn the attitudes of your science to create something so beautiful and so powerful for your grandchildren. Why do you think you were given the moon? Now you know.

This benevolent Universe gave you an astral body that allows the waters in your ocean to push and pull and push on the most regular schedule of anything you know of. Yet there you sit enjoying just looking at it instead of using it. It could be enormous, free energy forever, ready to be converted when you design the methods of capturing it. It's time.

So in closing, do you understand what you're seeing? You're seeing intelligent design, quantum energy and high consciousness. You are seeing changes in Human nature. You're seeing countries putting things together instead of separating. You are seeing those who don't want war and instead want peace, good schools for their children, safety in their streets and a say in their government. We told you it was going to happen this way. I want my partner to teach these things that I have said in his 3D lectures for awhile. Many won't be able to know these things otherwise.  …”

JCI Closes Higher on Monday Despite Collapse of Floor in IDX Building

Jakarta Globe, Sarah Yuniarni, January 15, 2018

The Jakarta Composite Index closed higher on Monday, bouncing back from
Friday despite the collapse of a mezzanine floor in the Indonesia Stock Exchange
building, shortly after the end of the day's first trading session. (JG Photo/Yudha Baskoro)

Jakarta. Indonesia's benchmark stock index closed higher on Monday (15/01), bouncing back from Friday despite the collapse of a mezzanine floor at the local bourse in Jakarta, shortly after the end of the day's first trading session.

The Jakarta Composite Index (JCI) closed 0.19 percent higher at 6,382.

Nafan Aji, an analyst at brokerage firm Binaartha Sekuritas, said the JCI opened higher at 6,379 on Monday due to strong gains in Asian stocks, spurred by an improvement in global commodity prices.

The index reached 6,389 at around 10 a.m., but dropped during the second session.

"The country's index weakened slightly during the second trading session, likely due to negative sentiment from a deficit in Indonesia's trade balance, and the collapse of a first-floor corridor in the Indonesia Stock Exchange [IDX] building, but it bounced back and [still] closed higher than Friday," Nafan said.

Indonesia recorded a $270 million trade deficit in December, but the country still had a cumulative $11.84 billion trade surplus for 2017, Central Statistics Agency (BPS) data shows.

Foreign investors, who accounted for 37 percent of Monday's trading, bought Rp 1.96 trillion ($147.4 million) more in shares than they sold, while local investors sold Rp 1.96 trillion more than they bought.

Some indexes rose during Monday's trading, led by a 1.53 percent gain in the one that tracks mining stocks, including Vale Indonesia and Medco Energi Internasional.

The index that tracks financial stocks, including Bank Mandiri and Bank Central Asia, gained 0.67 percent.

Gainers beat decliners by 168 to 175 on Monday.

IDX Floor Collapse

At least 77 people were injured when a mezzanine floor in the second tower of the IDX building collapsed shortly after 12 p.m. on Monday.

The tower, which is also home to the offices of the World Bank, International Finance Corporation, property consultants and several local lenders, was built in 1998.

The IDX said in a statement that the building management was still investigating the cause of the incident. Police have ruled out an explosion as the cause.

The second trading session started at 1:30 p.m. as normal, despite the incident.

The collapse of a mezzanine floor of the Indonesia Stock Exchange (IDX) building 

on Monday (15/01) was not caused by a bomb. (Antara Photo/Elo)

Related Article:

Building Collapse Injures 77 at Indonesia Stock Exchange, Bomb Ruled Out
Floor Collapses at Indonesia Stock Exchange Building