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COVID-19 Spike Risk Overshadows Financial Market

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Summary

The government officially tightened micro Community Activity Restrictions (PPKM) to deal with the COVID-19 case spike. This measure follows President Joko Widodo’s direction in a limited meeting held on Monday (6/21). The micro PPKM tightening will take effect from Tuesday (6/22) to Monday (7/5).

Several points that will be tightened are mall opening hours until 8.00 p.m. and a 75 percent work from home (WFH) in the red zone. In normal PPKM, shopping centers operate until 9.00 p.m. “Strengthening the Micro PPKM is the President’s direction to make adjustments,” said Chairman of COVID-19 Handling and National Economic Recovery Committee (KPC-PEN), Airlangga Hartarto, in a virtual press conference on Monday (6/21).

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