JAKARTA, Indonesia -- The president of the Indonesian stock exchange says trading will be suspended indefinitely "to prevent deeper panic" after another huge drop on Wall Street.
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A broker sits at an empty trading room during normal working hours after trading was stopped in Jakarta October 9, 2008. [Agencies]
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Indonesian authorities planned to reopen the market Friday morning after a suspension was imposed Wednesday.
But a last-minute change of plan has been announced after Asian stocks tumbled Friday morning amid fears of a global economic downturn.
Bourse President Erry Firmansyah says, "The situation is not yet conducive. This is to prevent deeper panic. It will be closed indefinitely while we will continue to monitor."
Market jitters have driven down the benchmark JSX index 21 percent this week. The index is down 47 percent this year, making it one of the worst performers in Asia.
