Bangladeshi regulators halted trading on the plunging Dhaka Stock Exchange on Thursday after it lost 8.6 percent in six minutes, the fastest fall in the bourse's history. The market lost 599.76 points to 6,313.62 soon after trading started on the Dhaka Stock Exchange at 1:00 pm. "Today's market has been halted at 1:06 pm, due to the index circuit breaker as the DSE General Index has decreased more than 225 points," the exchange said in a statement.
It was the fourth time trading has been halted in 10 days. The benchmark index rose 80 percent in 2010 to peak on December 5 at a record 8,918.15. It has since fallen 29.3 percent, with each new slide triggering angry street demonstrations. After trading closed Thursday, investors attempted to start a protest in front of the DSE offices in central Dhaka.
"Protesters are gathering in front of the DSE office, but we are trying to keep them away," police officer Abdul Momin told AFP. On Wednesday, trading was halted when the index fell 225 points, or 3.2 percent, triggering violent clashes between police and thousands of investors.
On January 10, the DSE fell a record 8.9 percent, prompting a halt in trading and major civil unrest. Police fired tear gas and baton charged protesters to break up the crowd. The market then rose 15.58 percent - a record - the following day, before beginning its current slide.
New, small-time investors have poured into Dhaka's stock market, with their numbers nearly doubling in the past 15 months to about 3.3 million. Many have bought shares after taking out loans. Impoverished Bangladesh has enjoyed an average six percent annual economic growth rate over the past eight years.
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