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Unusual market activities surged in 2016
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The trading floor at the Indonesia Stock Exchange (IDX). (JP/Wienda Parwitasari)
Unusual market activity (UMA) at the Indonesia Stock Exchange (IDX) in 2016 was double the figure recorded in 2015.
The bourse issued 128 announcements last year. That compared to 60 and 92 made in 2015 and 2014, respectively, IDX data shows. "The increase was in line with the bourse transaction hike," IDX director of transaction monitoring and compliance Hamdi Hassyarbaini told a media discussion on Thursday.
The market recorded average daily transaction value of Rp 7.5 trillion (US$564.7 million) last year, 30 percent higher than the previous year’s figure, while average daily transactions surged nearly 20 percent to 264,000 from 2015.
The UMA does not always mean that violations of the Stock Market Law occurred because the UMA is an announcement to investors of unusual movement, Hamdi said, adding that with it, the investors were warned of risks in transacting the stocks.
Some of the announced UMA were followed up by stock trading suspensions and investigations by the bourse.
However, several of them were also triggered by steep drops in stock prices due to the volatile global and domestic market situation, rather than suspicious transactions, IDX supervision division head Irfan Susandi said.
The Jakarta Composite Index (JCI), the IDX's benchmark, expanded by 15.32 percent last year, ranked fifth among global bourses and second in the Asia-Pacific region. (bbn)
