Thursday, October 9, 2008

Indonesian Stock Exchange CLOSED To Halt Panic

In breaking news...the Indonesian Stock Exchange has been CLOSED INDEFINITELY to halt continued panic! Who is next? Indonesian stock exchange halted indefinitely

JAKARTA, Indonesia (AP) — The president of the Indonesian stock exchange says trading will be suspended indefinitely "to prevent deeper panic" after another huge drop on Wall Street.

Indonesian authorities planned to reopen the market Friday morning after a suspension was imposed Wednesday.

But a last-minute change of plan has been announced after Asian stocks tumbled Friday morning amid fears of a global economic downturn.

Bourse President Erry Firmansyah says, "The situation is not yet conducive. This is to prevent deeper panic. It will be closed indefinitely while we will continue to monitor."

Market jitters have driven down the benchmark JSX index 21% this week. The index is down 47% this year, making it one of the worst performers in Asia.

No comments: