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March 18, 2025 | 07:05 pm
TEMPO.CO, Jakarta - The House of Representatives (DPR) lawmakers made a surprise visit to the Indonesia Stock Exchange (IDX) following a temporary trading halt on Tuesday, March 18, 2025. The halt was triggered after the Composite Stock Price Index (IHSG) plunged 5.02 percent to 6,146.
Chairperson of the DPR's Commission XI, Mukhamad Misbakhun, stated that the visit aimed to restore market confidence. He emphasized that the DPR fully supports the Financial Services Authority (OJK) and IDX in addressing the market downturn.
"We are here to rebuild market confidence and reassure investors that they have the full backing of the state," Misbakhun said at the IDX building in Jakarta.
Meanwhile, Deputy Chairperson of the DPR Sufmi Dasco Ahmad said that the decline in IHSG is not the first to occur. However, he expressed commitment to support the Indonesia Stock Exchange and reassure the market.
"We reassure the market to remain calm. Then, we will support the government to be present and take necessary steps as quickly as possible to restore the market stability," Dasco said in the same occasion.
Stock trading at the IDX in the first session on Tuesday, March 18, 2025 experienced a temporary halt or trading halt. The IHSG position plunged by 5.02 percent to the level of 6,146.
Corporate Secretary of PT Indonesia Stock Exchange Kautsar Primadi Nurahmad conveyed this through a written statement.
"With this, we inform that today, Tuesday, March 18, 2025, there was a temporary suspension of trading (trading halt) in the trading system of PT Indonesia Stock Exchange (IDX) at 11:19:31 Jakarta Automated Trading System (JATS) time triggered by the Composite Stock Price Index declining by 5 percent."
A trading halt is a policy implemented by the stock exchange to temporarily suspend trading. This measure is taken to address market imbalances, resolve technical issues, or respond to sharp index fluctuations. The exchange enforces this rule to protect investors from potential losses due to extreme price swings.
IHSG started the week on a weak note. According to research by Samuel Sekuritas Indonesia, IHSG dropped 0.99 percent to 6,450.8 by the end of the first trading session on Monday, March 17, 2025, in contrast to global markets, which mostly showed gains.
Domestically, IHSG fluctuated before ultimately slipping into the red.
"By the close of today’s first session, 322 stocks advanced, 303 declined, and 221 remained unchanged, with a transaction value of Rp5.1 trillion, a trading frequency of 656,335, and a volume of 129.7 million lots," Samuel Sekuritas analysts reported on Monday.
Aisha Saidra contributed to the writing of this article.
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