Wed, 17 May 2000

Two broking firms suspended

JAKARTA (JP): The Jakarta Stock Exchange (JSX) temporarily suspended on Tuesday the operations of two securities companies, PT Sekuritas Namalatu Ronesina and PT Intifikasa Securindo, due to alleged market manipulation.

The two securities companies allegedly engaged in artificial transactions in the trading of PT Mas Murni Indonesia's preferred shares, the JSX said in a statement.

"The two securities companies are banned from trading until a further investigation is completed," it added.

The trading of the above company's preferred shares has also been temporarily suspended. (udi)