Jakarta Stock Exchange Closed on Chinese New Year

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Last updated at: (Beijing Time) Tuesday, February 12, 2002

Jakarta Stock Exchange Closed on Chinese New Year

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For the first time in its history, the Jakarta Stock Exchange (JSX)has decided to take a day off on Tuesday following the Indonesian government's announcement that the Chinese New Year (Imlek) on February 12 was an alternative holiday.

The JSX's Commerce Director Hary Wiguna was quoted by the Detikcom online news service Monday as saying that it made the decision also because the stock exchanges in this region will cease operating on Tuesday in observance of the celebration.

Meanwhile, many private firms in the capital have decided to take a day off on Tuesday.

While state-run schools will run as usual, many private schools will have a holiday.

"Most of our students are Chinese. That's why we decided to close the school," said Albertus Joko Widodo,headmaster of a Tarakanita school in Jakarta.

Banks, however, will open as the central bank announced it would operate normally on Tuesday as would other government offices.

The Imlek atmosphere was palpable in Chinatown,including at the Glodok electronics market, where vendors have displayed many gifts, tributes and colorful decorations.

In West Jakarta, some Buddhist viharas have been preparing to celebrate Imlek.

"We now have freedom to conduct prayer services in accordance with our tradition," said Sugiyanto Krisnandar,a board member at Vihara Dharma Satrya in Teluk Gong.

However, plans for spectacular celebrations have this year been shelved due to the severe flooding that has hit Jakarta over the past two weeks.

Instead of preparing for the annual celebrations,some Chinese people are having to cope with the aftermath of the flooding.

"The ethnic Chinese people are urged to celebrate Imlek modestly. Not only because most of us are flood victims but we shouldn't have a glamourous celebration when most people are suffering," A Nio, a vendor in the Glodok area said.

Under the 32-year-old rule of New Order regime,former president Soeharto banned Imlek and suppressed Chinese traditions and culture.

When Abdurrahman Wahid became president in 1999,he opened the door to Chinese culture. Since then,Chinese Indonesians, who comprise about three percent of the population, have had the freedom to expose their culture.

Last year, the minister of religious affairs issued decree No. 13 stipulating that Imlek was an alternative holiday.

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