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Jakarta Post

New 7% limit-down rule slows JCI fall

  • The Jakarta Post

Jakarta   /   Sat, March 21 2020   /  01:54 am
Backstop: An employee cleans the floor at the Indonesia Stock Exchange (IDX) office building in Jakarta on Thursday. A regulation issued recently by the IDX has helped slow the drop in the exchange’s benchmark index.(Antara/Hafidz Mubarak A)(IDX) office building in Jakarta on Thursday. A regulation issued recently by the IDX has helped slow the drop in the exchange’s benchmark index.(Antara/Hafidz Mubarak A)

Backstop: An employee cleans the floor at the Indonesia Stock Exchange (IDX) office building in Jakarta on Thursday. A regulation issued recently by the IDX has helped slow the drop in the exchange’s benchmark index.(Antara/Hafidz Mubarak A)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...