JAKARTA – The Indonesia Stock Exchange (IDX) has temporarily suspended trading of shares in PT Solusi Sinergi Digital Tbk (WIFI) as of Friday (31/1).

Endra Febri Styawan, Acting Head of IDX's Transaction Monitoring Division, stated that the suspension was imposed to protect investors. "This is in response to the significant cumulative price increase in WIFI shares," he said, as quoted.

On the previous day (30/1), the company’s stock price surged by 25%, rising to IDR 1,225 from IDR 980 per share. This increase hit the upper Auto Rejection (ARA) threshold for shares priced between IDR 200 and IDR 5,000 per share. A total volume of 233.9 million shares was traded in 33,331 transactions, with a value of IDR 273.24 billion.

The previous week (24/1), the stock price increase was within a reasonable range, closing at IDR 980, up IDR 75 from IDR 905 per share.

The suspension, effective from Friday, applies to both the regular and cash markets, providing time for investors to make informed decisions regarding their investments in WIFI shares. (LK/ZH)