The Indonesia Stock Exchange (IDX) reported there are 12 public issuers are planning to buyback their shares in the secondary market with total amount Rp2.5 trillion (US$168.92 million) - Photo: Special

JAKARTA (TheInsiderStories) – Indonesia Stock Exchange halt the first session of trading after the Jakarta Composite Index dropped 5 percent to 4,891.88. The last time, the self regulatory office stopped the trading on March 17, 2020 after touched the lowest level since 2006 at 4,456.1.

“We hereby inform you that today, Thursday there has been a temporary halt on the trading system on the Indonesia Stock Exchange at 10:36:18 JATS time which was triggered by the decline in the Jakarta Composite Index reaching 5 percent,” IDX management announced today (09/10).

The decision has been made based on the decree of the board of directors of IDX Number Kep-00024/BEI/03-2020 concerning the change of guidance of trading continuity in the local bourse in emergency condition. Today’ trading will resume at 11:06:18 JATS time and will continue normally without any changes on the trading schedule.

The same thing happened in money market. Rupiah weakened to 14,790 against the US Dollar, compared to yesterday’ position. Middle rate of Bank Indonesia also lowered to 15,098 against the Greenback.

The regulators has changed the auto rejection limitation starting Marc 11. The IDX regulated the selling offer price or buying demand for shares entered into  more than 35 percent above or 10 percent below for the reference price of stock with value of Rp50 up to Rp200.

Then, more than 25 percent above or 10 percent below the reference price for shares with a price range of more than Rp200 to Rp5,000 a share. And, more than 20 percent above or 10 percent below the reference price for shares with a price above Rp5,000 each.

The provisions are effective starting March 10, until the deadline to be determined later. Earlier, the IDX revoked all short selling transaction in the stock market followed the drowned of the JCI. It said, the short selling transactions ban will implemented until to the deadline to be determined later.

The official data showed, throughout the year the index has fell 13.44 percent. According to IDX, the decline in the last week of February was the biggest contributor to the decline in the in the global major exchanges and ASEAN.

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