Indonesia to scrap 50 rupiah minimum price for listed stocks

JAKARTA -- The Indonesia Stock Exchange plans to scrap the minimum share price of 50 rupiah (28 U.S. cents), a move it said is aimed at improving liquidity and allowing prices to better reflect market valuations."We have held discussions with the Association of Indonesian Securities Companies and the Indonesian Investment Managers Association to get feedback from market participants," IDX President Director Jeffrey Hendrik told Nikkei Asia on Thursday. "We have also discussed the plan with global investors."Hendrik declined to provide details on the planned changes or confirm when they would take effect. The exchange is still gathering feedback from market participants and assessing the readiness of its trading systems, he said.