March 10, 2020 / 2:10 AM / a month ago

Indonesia exchange raises stocks auto-reject decline limit to 10%

JAKARTA, March 10 (Reuters) - Indonesia Stock Exchange (IDX) said in a statement that starting on Tuesday it has raised to the limit for an equity to fall before the auto-rejection mechanism kicks in to 10%, from a previous range of 20%-25%.

The measure was taken after a 6.6% drop in Indonesia’s main stock index amid global oil price plunge and fear of coronavirus spread. Monday’s loss was the biggest single day drop since October 2011, bringing the year-to-date decline to 18.5%.

The top limit for shares auto-rejection is maintained at 20%-35% depending on the share’s price brackets.

Reporting by Fransiska Nangoy; Editing by Christian Schmollinger

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