Indonesian stocks tumble on reopening after three-day halt
Indonesia's stock exchange resumed trading on Monday following a three-day halt after the bourse cut the limit on stock-price movements and the government eased buyback rules to help revive investor confidence.
The Indonesia Stock Exchange said its benchmark composite index fell 85.43 points, or 5.88 per cent, to 1,366.24 about an hour after it reopened. The IDX opens its morning session at 9:30 am (0230 GMT).
The Indonesia Stock Exchange suspended trading October 8 after the key index plunged to more than 10 per cent, extending a three-day loss to 21 per cent. Trading was scheduled to open on October 10 but was delayed after global equities tumbled.
Indonesian President Susilo Bambang Yudhoyono last week ordered the state-enterprises to buy back shares in an attempt to help revive investor confidence.
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