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IDX may re-open trading in afternoon session
The Jakarta Post , Jakarta | Fri, 10/10/2008 10:46 AM | Business
The Indonesian Stock Exchange (IDX) may be re-opened on second session on Friday afternoon, IDX director M.S. Sembiring said.“We are still looking for possibilities. We decided to cancel the re-opening for the first session because global market (is still bad),” he said as quoted by Tempointeraktif.com
Indonesian stock trading was frozen indefinitely in Friday morning to avoid further panic as global markets plunged over concerns stemming from the U.S. financial crisis.
A suspension was imposed on the Jakarta Stock Exchange on Wednesday in response to sudden, steep loses, but authorities had planned to resume trading Friday morning. However, market halt was imposed Friday as Asian stocks tumbled again in response to a whopping 7.3 percent decline of the Dow Jones Industrials Average.
In Tokyo, Japan's main index sank more than 10 percent Friday morning. Key stock index tumbled more than 8 percent in early trade Hong Kong and South Korea.
Sembiring said IDX and the Capital Market Supervisory Agency and Financial Institution (Bapepam-LK) was holding a meeting to discuss the current stock market situation and when the suspension should ended. (dre)
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Enrico (not verified) — Fri, 10/10/2008 - 3:17pm
Stocks tumble steeply around the world, here we think: just don't open the Stock Exchange and you won't have losses? That is a very risky strategy that may well undermine the IDX in the long run. In a free stock exchange one should be able to buy at will and be able to sell at will.