Stock monitors to be put in public places

Stock monitors to be put in public places

JAKARTA (JP): The Jakarta Stock Exchange (JSX) will install
stock trading monitors in public places beginning in November
this year.

JSX president Cyrill D. Noerhadi said yesterday the computer
monitors would be installed at major airports, hotels, seaports
and railway stations and would provide real time information
about trading activities.

"The launch of such an information service, called Basic Info,
is part of the JSX program to promote capital market activities
to the public," he told the press in a monthly briefing.

"People who travel and need information about the stock market
can obtain real time information about stock trading, especially
prices."

He said the Basic Info facilities would be installed and
operated in cooperation with the management of hotels, airports,
seaports and railway stations.

Cyrill said the JSX would cooperate with an insurance company
to cover possible losses resulting from the malfunction of the
technology system applied at the Jakarta bourse.

Initially, he said, JSX management would pay 40 percent of the
premium which should be paid by exchange members.

Cyrill said foreign investors had responded positively to the
government's move last week to scrap the 49 percent ownership
limit imposed on foreign investors, excluding banking and
securities stock. The move was aimed at luring foreign investors.

"But it is difficult for us to judge the real impact on the
bourse," he added.

Average daily transactions increased by about 50 percent to
20,950 times last week from 13,645 times in August.

Transactions were unusually high Monday as investors reacted
to the government's decision to abolish the foreign ownership
limit, disrupting the trading activities.

JSX director Mas Achmad Daniri said yesterday the trading
system would be upgraded to ensure it could accommodate high
transaction frequency.

"We want to more than triple the trading frequency soon,"
Daniri said. (aly)