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Finance

Indonesia small bank shares swing on tech investment speculation

Prices in flux as e-commerce transforms economy and regulatory changes lag

Share trading in small Indonesian banks has been buffeted by speculation that tech companies want to enter the market for financial services.   © EPA/Jiji

JAKARTA -- Since going public on Feb. 1, Bank Net Syariah, a little-known small lender, has been one of the standout performers on the Indonesian Stock Exchange. Its share price has surged a staggering 2,200% since its IPO; the broader IDX composite, in contrast, has fallen close to 4% in the same period.

Although not as dramatic as Bank Net Syariah, other small lenders have also seen their share prices rise in recent months, though most have quickly yielded to the forces of gravity.

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