Indonesia Stock Exchange (IDX) halt the stock trading after the Jakarta Composite Index (JCI) dropped 5 percent to 4,456.1 at 3.03 p.m. Eastern Time, a lowest level since 2016 - Photo: Special

JAKARTA (TheInsiderStories) – Indonesia Stock Exchange (IDX) halt the stock trading after the Jakarta Composite Index (JCI) dropped 5 percent to 4,456.1 at 3.03 p.m. Eastern Time, a lowest level since 2016. The termination is the third time in this month.

“We inform you there has been a trading halt on the Indonesia Stock Exchange at 15:02:44 JATS (Jakarta Automatic Trading System) time triggered by the decline in the JCI reached 5 percent” said the management of IDX in a written statement.

Based on IDX data, there are 170 shares that are hit auto rejection after declined around 6 percent on today’ trading. Only 49 shares gained this afternoon.

The same thing happened in money market. Rupiah weakened 1.68 percent to 15,150 against 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.

US$1: Rp14,500

Written by Staff Editor, Email: theinsiderstories@gmail.com