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Jakarta Post

IDX urged to stop trading as market rout shows no signs of slowing

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Mon, March 23, 2020   /  05:27 pm
The Jakarta Post Image
Visitors take pictures of the Indonesia Stock Exchange (IDX) trading board in Jakarta.(JP/Dhoni Setiawan)

Market players are calling on the Indonesia Stock Exchange (IDX) to consider suspending stock trading for several days as panic selling over the impacts of COVID-19 on the country is showing no signs of slowing. Capital market expert Teguh Hidayat urged the bourse to stop trading for a few days to help calm investors amid heightened concerns over the pandemic. “If trading continues, the market will fall even deeper than it already has,” he said over the phone on Wednesday. Almost all shares on the stock exchange plunged sharply within the last two weeks amid fears over the pandemic’s crippling impact on business activities and the country’s already sluggish economy. The price fall continued on Monday, with the exchange’s main market indicator, the Jakarta Composite Index (JCI), losing another 5 percent to land at 3,985 at the close of trading. Th...