Erwida Maulia, Jakarta – Indonesia's stock market dropped 5% on Thursday morning, triggering a circuit breaker, after Jakarta Gov. Anies Baswedan's announced the reimposition of wide-ranging restrictions on movement in the Indonesian capital, starting Monday.
The Indonesian Stock Exchange halted trading for 30 minutes as the Jakarta Composite Index fell to its lowest point since late June. Trading resumed around 11 a.m.
Baswedan announced Wednesday night that the number of infections and deaths due to coronavirus in Jakarta had risen drastically since mid-August, raising concerns that hospital and intensive-care beds for COVID-19 patients in Jakarta will be full as soon as next week.
"Jakarta currently has 4,053 isolation beds for COVID-19 patients. As of yesterday, 77% were in use," the governor said. "If this situation keeps on going, if we don't pull the brake, based on our projection, the isolation beds will be full by Sept. 17 and after that we won't be able to accommodate any more COVID patients."
The 528 intensive-care beds for patients with severe symptoms are expected to run out by next Tuesday.
Baswedan said the Jakarta government is in talks with a number of privately run hospitals to increase the number of beds available for COVID-19 patients by 20% this month. Currently 67 of the 190 hospitals in the capital serve as hospitals for COVID-19 patients.
"But if it is not accompanied by tight [movement] restrictions, even these [new] hospital beds will be full by the second week of October," Baswedan said.
Under the reinstated restrictions, most offices and public spaces will be closed. Schools will remain closed and restaurants will be open for takeout orders only. Neighborhood mosques will be allowed to open only in areas confirmed to be free from coronavirus infections
As in April and May, when Jakarta first imposed the restrictions before relaxing them in June, only 11 essential industries – including food, finance, construction and logistics – will be exempt, and even they will have operational limits.
"As in the beginning of the pandemic, we'll do work from home, study at home and pray at home. This is a more [severe] emergency situation than earlier, so do not leave home unless you have to," Baswedan said.
As of Wednesday, Jakarta had reported 49,397 coronavirus cases, the highest among Indonesia's 34 provinces, and 1,334 deaths. But the number of funerals applying health protocols for COVID-19 has exceeded 5,000, according to data from the Jakarta government's website.
Nationwide, Indonesia has reported a total of 203,342 cases and 8,336 deaths. While the number of infections is the second-highest in Southeast Asia after the Philippines, it is No. 2 in Asia for deaths, behind only India.
Baswedan said office clusters, as well as dine-in restaurants and public transport, have all contributed to Jakarta's significant rise in cases in recent weeks.
"The president two days ago urged all of us not to restart the economy before [public] health is under control. Seeing this emergency situation, we do not have much choice but to pull the emergency brake as soon as possible."
– Additional reporting by Ismi Damayanti.