Bangladesh halts trading as stocks dive again
2011-01-19 16:35:08
Bangladesh's Dhaka Stock Exchange halted trading on Tuesday after stocks fell more than three percent in the latest of a series of plunges that have sparked street protests by investors.
The benchmark Dhaka Stock Exchange general index (DGEN) rose 80 percent in 2010 but has been volatile since peaking on December 5 at a record high of 8,918.15 points.
Last week riot police used tear gas to disperse investors protesting outside the stock exchange, where outraged crowds set alight tyres and office furniture and chanted slogans against the government and regulators.
"Trading has been halted after the order from the Securities and Exchanges Commission. They halted trading because the benchmark index has been falling for four days," exchange spokesman Shafiqual Islam told AFP.
Trading at the smaller Chittagong Stock Exchange was also halted.
The DGEN index has lost 556.54 point over the last four days to end at 7,134.14 when trading was halted Tuesday. It fell 243 points, or 3.30 percent, during the day.
A small crowd gathered outside the Securities and Exchanges Commission soon after trading was halted, chanting slogans.