The Jakarta Composite Index fell 5% on Monday to trigger a halt. Total transaction was at 3.89 trillion rupiah as of time of halt, said Laksono Widodo, director of trading and membership at the Indonesia Stock Exchange, in a statement. The index was at 3,985.076 by 2:52 p.m. local time, heading for its lowest level since March 20. The rupiah slipped to 16,625 per U.S. dollar to weakest level since June 1998.
Indonesian stocks have slumped 36.7% since the start of the year to an eight year-low as it’s swept up in a global sell-off sparked by the outbreak of coronavirus, which has killed almost 14,500 and infected more than 300,000 people worldwide. Indonesia has seen a spike in infections and fatalities in recent weeks, prompting authorities to declare an emergency in capital Jakarta.
The exchange can halt trading again for another 30 minutes if the index hits the 10% circuit breaker. - Bloomberg