By Nik Nurfaqih Nik Wil
JAKARTA, Oct 16 (Bernama) -- Trading on the Indonesia Stock Exchange (IDX) was temporarily halted for 30 minutes on Friday morning after the Jakarta Composite Index (IHSG) plunged eight per cent.
IDX acting corporate secretary Valentina Simon said trading was suspended at 8.58 am Jakarta Automated Trading System (JATS) time, before resuming at 9.28 am without any changes to the regular trading schedule.
“IDX was carrying out this effort to maintain orderly, fair and efficient equity trading,” she said in a statement on Friday.
Under IDX trading rules, a 30-minute trading halt is triggered when the benchmark index declines by more than eight per cent in a single trading day.
A further 30-minute halt applies if losses exceed 15 per cent, while trading may be suspended for the remainder of the session, or longer with regulatory approval, if the decline exceeds 20 per cent.
The latest suspension follows a similar trading halt on Jan 28, when the IHSG plunged eight per cent during intraday trading.
As at 11.29 am, the IHSG fell 10.76 per cent to 5,232.59.
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