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MonarqiLabs / Glossary / Trading halt and auto rejection on the IDX
Glossary

Trading halt and auto rejection on the IDX

Auto rejection sets the highest (ARA) and lowest (ARB) price a stock can trade at within one session, measured from its reference price, and the trading system rejects any order outside that band. A trading halt is a temporary pause applied to the whole market when the Jakarta Composite Index (IHSG) falls past set thresholds within one session, and a steeper fall can lead to a longer suspension.

penghentian sementara perdagangan dan auto rejection BEI

Why it matters

Auto rejection caps daily moves. Limits are set from the reference price, normally the previous close, and orders priced outside the band are rejected, so a stock at its lower limit cannot trade lower that day. The lower limit was set to a flat 15% in April 2025, and under a transition rule from 28 September 2026 it stays at 15% for stocks priced above Rp10. A market-wide halt works on the index: a fall of more than 8% in the IHSG within one session pauses trading for 30 minutes. A steeper fall, past the 20% suspension threshold set by the April 2025 decrees, can lead to a longer suspension.

Examples on the IDX

On 13 March 2020 the IDX capped stock falls at 7% and scrapped pre-opening trade (The Jakarta Post). On 8 April 2025 it raised the first market-wide trigger from 5% to 8% and set the lower stock limit at 15% (IDX announcement via ASEAN Exchanges; Reuters via New Straits Times). On 29 January 2026 the IHSG fell about 8% and trading paused from 09:26:01 to 09:56:01 JATS (RRI). From 28 September 2026 the lower limit stays at 15% for stocks above Rp10 during a transition (Investortrust.id; KabarBursa).

Scenarios that use this term

Intraday Trading Halt · MSCI Free-Float Freeze

Sources

  1. Stock falls capped at 7%, no pre-opening trade as IDX prevents steep drops amid global market rout, The Jakarta Post, 2020-03-13; accessed 2026-10-11.
  2. IDX adjusted rules on lower limit of auto rejection and rules on temporary halt on securities trading, ASEAN Exchanges (reproducing the IDX announcement), 2025-04-08; accessed 2026-10-11.
  3. Indonesia stock exchange says 20pct fall would see trade, New Straits Times (Reuters), 2025-04-08; accessed 2026-10-11.
  4. IDX imposes temporary trading halt amid sharp market drop, RRI, 2026-01-29; accessed 2026-10-11.
  5. BEI Resmi Hapus Batas Rp 50, Ini Aturan ARA-ARB Terbarunya, Investortrust.id, 2026-09-21; accessed 2026-10-11.
  6. BEI Ubah Aturan ARB Mulai 28 September, Apa Dampaknya bagi Investor, KabarBursa, 2026-09-23; accessed 2026-10-11.
  7. BEI Ubah Aturan Auto Rejection, Batas ARB Makin Lebar Jadi 35% mulai 2027, Katadata, 2026-09-21; accessed 2026-10-11.
  8. Apa Itu Saham ARA dan ARB? Investor Generasi Corona Perlu Tahu, Kontan, 2021-01-20; accessed 2026-10-11.