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Wednesday, October 15, 2008

Indonesia stock exchange says may raise upside limit

JAKARTA, Oct 15 - Indonesia Stock Exchange may increase the upside limit for share trading to 20-25 percent from 10 percent currently, President Director Erry Firmansyah said on Wednesday, but will keep its 10 percent downside limit in place.
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The exchange reopened on Monday after suspending trade for three days last week following a sharp fall in share prices. Stock price moves were limited to 10 percent, up or down, using the exchange's auto-rejection system.
"The auto-rejection will be the same as yesterday, with the upside and downside limit remaining at 10 percent, and today we are developing a new system," Firmansyah said.
"If everything goes well, tomorrow we might implement the downside limit of 10 percent, while the upside limit might be increased to 20-25 percent, depending on our tests."




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