Indonesia's stock market plummeted 224 points or 4% to 5,312 on Friday at around midday, amid escalating fears over the impact of the virus outbreak on Southeast Asia's biggest economy. The sell-off followed to a 2.7 percent plunge in the previous day, with all sector tumbling between 1 to 5%. If the index declines by 5%, the bourse would suspend trading for a few hours but reopen within the same day, according to a senior official in the Indonesia stock exchange. If the index fell by 10%, stock trading would be suspended for the whole day.
Historically, the Indonesia Stock Market (JCI) reached an all time high of 6693.47 in February of 2018.
The Indonesia Stock Market (JCI) is expected to trade at 5396.05 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5241.86 in 12 months time.