Indonesia stock trading halted for third time

JAKARTA (Bloomberg): Indonesian stocks dropped more than 5% on Tuesday, triggering a trading halt for a third time in a week as equities tumbled across US and Asia.

The Jakarta Composite Index fell to 4,456.099, its lowest level since January 2016. The benchmark index is down 29.3% so far this year. Total transaction value at 5.4 trillion rupiah (US$356.2 million) as of time of halt, said Laksono Widodo, director of trading and membership at the Indonesia Stock Exchange, in a statement.

The rupiah also extended its losses for the fifth consecutive day, down 1.5% to 15,160 against US dollar to weakest since November 2018.

Trading will resume after a 30-minute halt, according to Indonesia Stock Exchange rules. Trading can be halted again for another 30 minutes if the index hits the 10% circuit breaker after market reopens.