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Jakarta Post

Trading halted for third time in week, stocks hit five-year low

  • Adrian Wail Akhlas

    The Jakarta Post

Jakarta   /   Wed, March 18 2020   /  12:57 am

Indonesian stocks hit circuit breakers for the third time in the past week on Tuesday, touching levels unseen since 2015 as the rupiah surpassed the psychological threshold of 15,000 to the US dollar in the ongoing coronavirus-driven global market rout.The Jakarta Composite Index (JCI), the main gauge of the Indonesia Stock Exchange (IDX), tumbled 5 percent to touch 4,456.10 at 3:02 p.m., the lowest level since December 2015, as foreign investors dumped a net Rp 1.01 trillion (US$66.9 million). The fall triggered a 30-minute trading halt as stipulated by a new IDX regulation issued on March 11 to mitigate the ongoing market rout.“Trading will reopen at 3:32 p.m. without a change in the trading schedule,” the IDX announced following the temporary trading suspension. Upon reopening, the stock index closed at 4,456.75, a 4.99 percent slump for the day and the lowest the index has been s...