ID :
23801
Fri, 10/10/2008 - 21:05
Auther :
Shortlink :
http://m.oananews.org//node/23801
The shortlink copeid
BEI LIKELY TO REOPEN TRADING ON MONDAY
Jakarta, Oct. 10 (ANTARA) - The Indonesian Stock Exchange (BEI) is likely to resume trading activities on Monday (Oct. 13) after the government has prepared the necessary infrastructure, the bourse's chief said.
"We will see (how things develop). God Willing, we will reopen the market on Monday, while the government is preparing all needed infrastructure today (Friday)," BEI President Director Erry Firmansyah said after attending a meeting with the finance minister here on Friday.
He said a lot of infrastructure must be prepared as part of the government's measures to improve the conditions of the capital market.
"For instance, we see that there should be more specific regulations on buybacks, pension funds, insurance and other things," he said.
The government would reopen trading activities on the stock market only when all necessary preparations had been made and all relevant things were improved, he said.
Meanwhile, the stock market 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.
Trading on the Indonesian Stock Exchange has been suspended since Wednesday (Oct. 8) as the market became irrational causing the main index to plummet more than 10 percent by mid-morning on Wednesday.
Firmansyah said earlier that 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.
"We will see (how things develop). God Willing, we will reopen the market on Monday, while the government is preparing all needed infrastructure today (Friday)," BEI President Director Erry Firmansyah said after attending a meeting with the finance minister here on Friday.
He said a lot of infrastructure must be prepared as part of the government's measures to improve the conditions of the capital market.
"For instance, we see that there should be more specific regulations on buybacks, pension funds, insurance and other things," he said.
The government would reopen trading activities on the stock market only when all necessary preparations had been made and all relevant things were improved, he said.
Meanwhile, the stock market 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.
Trading on the Indonesian Stock Exchange has been suspended since Wednesday (Oct. 8) as the market became irrational causing the main index to plummet more than 10 percent by mid-morning on Wednesday.
Firmansyah said earlier that 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.
