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Indonesian bourse resumes trading, share prices fall

 
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October 13, 2008

Indonesian bourse resumes trading, share prices fall
The Indonesia Stock Exchange (IDX) resumed trading this morning at 9.30, with the main index falling, following a three-day trading suspension due to massive fallout, reported local daily the Jakarta Post.

Once opened, the index fell to the 1,388.814 points, and the sentiments remained bearish, analysts said.

The index continued to fall further by 6 percent from the opening to the level of 1,363.326 at about 10 a.m.

Analysts said that the continuing fall on the main index was caused by unsettled stock trading last Wednesday, when the IDX management suspended all trading after midday closing.

Tempointeraktif.com reported that the situation on the IDX trading floor remained normal, no panicking among traders was seen. Some of the traders looked relaxed, reading newspapers, while others receiving phone calls from clients.

The IDX management has introduced a new automatic suspension system, which would automatically suspend trading whenever a share price or stock index falls or rises by 10 percent.

Previously, the automatic suspension would have only occurred when a share price or stock index fell or rose by 35 percent.

The last time the IDX suspended all trading last Wednesday, the stock index fell by 10 percent.

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