ID :
23636
Fri, 10/10/2008 - 14:54
Auther :
Shortlink :
http://m.oananews.org//node/23636
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TRADING AT BEI AGAIN SUSPENDED FRIDAY MORNING
Jakarta, Oct 10 (ANTARA) - The Indonesian Stock Exchange (BEI) authority was compelled to suspend trading in the bourse's first session again on Friday morning because of a worsening of conditions in global stock markets.
"We were afraid the global turmoil would also drive down the composite price index here," BEI director for trade affairs MS Sembiring said on Friday.
He said BEI would continue to consult other regional stock market authorities to decide whether or not the suspension needed to be extended to bourse's second session.
"If we are to reopen trading activities in the BEI later on, we will announce it," he said.
Trading on the Indonesian Stock Exchange was suspended on Wednesday and Thursday as the market became irrational causing the main index to plummet more than 10 percent by mid-morning on Wednesday.
On Thursday, the government said it would reopen trading at the BEI on Friday.
Speaking at a press conference at the finance ministry, Finance Minister Mulyani also said the government had taken five measures in a bid to improve conditions in the national stock market.
"The five steps to be effective this afternoon (Thursday) are expected to improve conditions in the national stock market as well as in the national banking industry," she said.
She said the government was committed to maintaining the stock market's integrity as it was one of the pillars of economic players' confidence in Indonesia.
Meanwhile, BEI President Director Erry Firmansyah said earlier, stock market trading was suspended on Wednesday and Thursday to give a chance to market players to collect factual information.
"By doing so, they (investors) can take appropriate decisions on their portfolio investments," he said.
The BEI chief, however, hoped that the finance minister would approve the reopening of trading on the stock market on Friday (Oct. 10).
"We were afraid the global turmoil would also drive down the composite price index here," BEI director for trade affairs MS Sembiring said on Friday.
He said BEI would continue to consult other regional stock market authorities to decide whether or not the suspension needed to be extended to bourse's second session.
"If we are to reopen trading activities in the BEI later on, we will announce it," he said.
Trading on the Indonesian Stock Exchange was suspended on Wednesday and Thursday as the market became irrational causing the main index to plummet more than 10 percent by mid-morning on Wednesday.
On Thursday, the government said it would reopen trading at the BEI on Friday.
Speaking at a press conference at the finance ministry, Finance Minister Mulyani also said the government had taken five measures in a bid to improve conditions in the national stock market.
"The five steps to be effective this afternoon (Thursday) are expected to improve conditions in the national stock market as well as in the national banking industry," she said.
She said the government was committed to maintaining the stock market's integrity as it was one of the pillars of economic players' confidence in Indonesia.
Meanwhile, BEI President Director Erry Firmansyah said earlier, stock market trading was suspended on Wednesday and Thursday to give a chance to market players to collect factual information.
"By doing so, they (investors) can take appropriate decisions on their portfolio investments," he said.
The BEI chief, however, hoped that the finance minister would approve the reopening of trading on the stock market on Friday (Oct. 10).
