Breaking: IDX Halts Stock Trading After 5 Pct Drop in Benchmark Index
Jakarta. The Indonesia Stock Exchange (IDX) temporarily halted trading on Tuesday after the Jakarta Composite Index (JCI) plunged 5 percent during the morning session.
According to Kautsar Primadi Nurahmad, corporate secretary of the IDX, the trading halt was triggered at 11:19:31 Jakarta Automated Trading System (JATS) time in accordance with IDX regulations.
The move follows IDX Board of Directors Decree No. Kep-00024/BEI/03-2020, issued in March 2020, which outlines emergency trading suspension procedures. According to the exchange, trading will resume at 11:49:31 Jakarta time, with no changes to the overall trading schedule.
The JCI was down 3.82 percent to 6,220 in the early trading session, pressured by heavy losses in banking and large-cap stocks. Bank Central Asia (BBCA) fell 2.62 percent, Bank Mandiri (BMRI) dropped 4.70 percent, Bank Rakyat Indonesia (BBRI) declined 3.66 percent, and Petrosea (PTRO) plummeted 15.02 percent. The LQ45 index, which tracks the 45 most liquid stocks, also weakened by 3.10 percent.
As the market was frozen, the JCI stood at 6,146, after opening at 6,471, marking its lowest level since September 2021.
“Currently, the market is in a highly speculative phase, driven by prevailing uncertainties that are making investors nervous,” Kiwoom Sekuritas Indonesia (KSI Research) wrote in a note on Tuesday.
Market analysts point to several factors fueling the selloff, including mass layoffs in key industries ahead of the Eid holiday and concerns over upcoming credit ratings from Fitch, S&P, and Moody’s. Recent downgrades by Goldman Sachs and Morgan Stanley have already dampened investor confidence.
Manufacturing firms such as Yamaha Music Product Asia, Adis Dimension Footwear, and Victory Ching Luh Indonesia have cut thousands of jobs, amplifying fears of a slowdown. Additionally, Goldman Sachs lowered Indonesia’s stock market rating from overweight to market weight, while Morgan Stanley cut its MSCI Indonesia weighting to underweight.
Adding to the volatility are looming interest rate decisions in Indonesia, Japan, and the US, as well as rumors of the resignation of two key economic ministers.
“With these factors at play, the best strategy is to hold and wait for JCI to stabilize around 6,200,” KSI Research advised.
Tags: Keywords:
as a preferred
Related Articles
Indonesian Stocks Gain at Open as Oil Prices Raise Profit-Taking Risks
Indonesian stocks opened higher before turning volatile as investors weighed rising oil prices, reserves and global market weakness.
Stocks Climb 1% as Indonesia’s Reserves, Airport Operations Recover
Indonesian stocks rose 1% as stronger foreign reserves and airport reopenings lifted domestic market sentiment.
Indonesian Stocks Rise as Budget Pressure, LPG Cuts Loom
JCI rises 0.3% as investors weigh higher reserves against tighter fiscal space and a lower 2027 energy subsidy budget.
Indonesia Stocks Close Lower as Middle East Risks Offset FX Reserves
Indonesian stocks fell 0.25% as Middle East tensions and strong US jobs data weighed on sentiment despite robust foreign reserves.
Indonesian Stocks Swing After Higher Open as Fed,Geopolitical Risks Loom
Indonesian stocks opened 0.24% higher but turned volatile as investors weighed Fed rate bets, US-Iran tensions and global trade risks.
JCI Falls 0.47% as Weekend Profit-Taking Hits Indonesian Stocks
The JCI fell 0.47% to 6,636 on Friday as weekend profit-taking outweighed optimism over planned efficiency in the MBG budget.
Gold ETFs Open New Investment Options on Indonesia Stock Exchange
Gold ETFs offer Indonesian investors a new way to gain exposure to gold prices without buying or storing physical gold.
Indonesian Stocks Rise as Fed Bets and MBG Savings Lift Sentiment
Indonesian stocks opened higher Friday as Wall Street gains and expectations of MBG budget savings boosted investor sentiment.
Indonesian Stocks Rally as Destry’s BI Appointment Boosts Confidence
Indonesia’s JCI jumped 1.09% on Thursday as confidence in BI’s leadership transition and improving global sentiment lifted stocks.
Jakarta Stocks Open Higher as Regional Markets Gain, Bond Yields Keep Investors Cautious
Jakarta stocks opened 0.55% higher on Thursday as regional gains lifted sentiment despite concerns over rising global bond yields.The Latest
SAR Team Expands Search for Missing Journalists Near Anak Krakatau
Indonesian rescuers have expanded the sea search for eight people, including five journalists, missing near Mount Anak Krakatau.
Indonesian Stocks Gain at Open as Oil Prices Raise Profit-Taking Risks
Indonesian stocks opened higher before turning volatile as investors weighed rising oil prices, reserves and global market weakness.
Court Hears of $5,000 Fee for Expedited Hajj Slots in 2023
A former Religious Affairs Ministry staffer testified that 181 pilgrims paid $5,000 each for expedited hajj departures in 2023.
Five Journalists Reported Missing While Covering Anak Krakatau Eruption
Five journalists and two boat crew members are missing after losing contact while covering the Anak Krakatau eruption off Banten.
Trump Tariffs Cripple EU Firms’ Confidence in ASEAN
As many as 81% of the surveyed European businesses admit that the US tariffs had weakened their confidence in ASEAN.Most Popular
