Instead of giving tax perks to businesses cashing in on the tourism windfall, Finance Secretary Cesar Purisima prefers to fund infrastructure projects meant to improve access to tourist destinations
Indonesia stock exchange extends trading hours by January 2013
LONGER HOURS. A lady walks past a stock exchange board in Jakarta where trading hours will be longer by 30 minutes starting January 2013. Photo by AFP
JAKARTA, Indonesia - Indonesia's stock exchange has said it will operate for an additional 30 minutes from next year to help traders in the country's different time zones and put it in line with other Asian markets.
In a statement received Friday, November 30, the Indonesian Stock Exchange (IDX) in Jakarta said from January 2 it would begin trading half an hour earlier, opening at 9 am (0200 GMT), while closing at 4 pm as usual.
"This is in order to synchronise trading times with other bourses in the region and provide additional time for investors in central and eastern Indonesia," the statement said.
The exchange will also bring forward its 10-minute pre-opening session to 8:45 am.
The announcement comes after a proposal was scrapped to reduce the sprawling archipelago's time zones from three to one in order to expand trade opportunities. - Agence France-Presse
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