Jakarta. Indonesia’s stock exchange halted trading on Thursday morning after the Jakarta Composite Index (JCI) plunged more than 8% within the first 30 minutes of the session, triggering an automatic circuit breaker through the Jakarta Automated Trading System (JATS).

The benchmark index shed 665 points, or 8%, to hit an intraday low of 7,654, moving within a range of 7,654 to 8,049 before the Indonesia Stock Exchange (IDX) imposed a 30-minute trading halt.

Trading will resume at 9:56:01 a.m. JATS time, with no changes to the day’s trading schedule, according to an official release from the IDX.

Market turnover stood at 13.08 billion shares valued at Rp 10.98 trillion ($653.48 million), with more than 863,000 transactions recorded. Only 33 stocks advanced, while 658 declined and 20 were unchanged, underscoring the breadth of the sell-off.

The steep decline followed the release of an assessment by MSCI Inc. on Tuesday, which included a review of free-float levels among Indonesian listed companies. Market participants said the announcement weighed heavily on investor sentiment, sparking broad-based selling across sectors early in the session.

The halt marks one of the sharpest opening declines on the IDX this year, highlighting heightened volatility as investors reassess Indonesia’s equity market following the MSCI review.

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