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)