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Jakarta Post

New 7 percent limit-down rule slows JCI fall

  • News Desk

    The Jakarta Post

Jakarta   /   Thu, March 19, 2020   /  03:52 pm
The Jakarta Post Image
The IDX logo is seen in front of a giant screen that displays information of the movement of stock prices at the Indonesia Stock Exchange (IDX), Jakarta, on Friday.(JP/Seto Wardhana)

The new 7 percent limit-down rule introduced by the Indonesia Stock Exchange (IDX) last week has helped slow the fall in the exchange’s main price benchmark the Jakarta Composite Index (JCI), as the rout continued to hit the local market amid uncertainties surrounding the COVID-19 global pandemic. The new regulation, issued on Thursday last week and coming into force on Friday, is part of a series of regulations rolled out by the IDX recently in an attempt to calm the market following a historic crash on Monday, during which the JCI nosedived 6.58 percent to a three-year-low, reflecting a fall across all blue-chip stocks. On that day, mining company PT Bukit Asam sank 9.8 percent, consumer goods company PT Indofood Sukses Makmur plunged 8.27 percent, Bank Central Asia (BCA) 6.69 percent, and telecommunications firm PT Telekomunikasi Indonesia (Telkom) 6.67 percent. This we...