An electronic board displays the figure of the Jakarta Composite Index, top, inside the Indonesia Stock Exchange (IDX) in Jakarta. (Photographer: Dimas Ardian/Bloomberg)

Indonesia Bourse's Building Floor Collapse Injures 72 People

(Bloomberg) -- It was a few minutes before Indonesia Stock Exchange’s midday trading break when Issa Almawadi heard a noise so loud it sent him running out of the building as dust was filling the air.

Almawadi, who works for online investment portal Bareksa.com, was fleeing the collapse of a mezzanine floor at Tower 2 of the bourse’s complex. He said in an interview that on getting outside, he joined others in hailing taxis to take those who’d been hurt, most of whom were women and students, to nearby hospitals.

Seventy-two people were injured and there were no deaths, Jakarta police said in a statement mid-afternoon. A security video showed dozens of university students in dark blazers walking on the mezzanine floor moments before it tipped to one side and spilled debris and metal poles onto the level below.

Indonesia Bourse's Building Floor Collapse Injures 72 People

Despite the turmoil, trading was unaffected. Indonesia’s stock market closed for its scheduled lunch break soon after the collapse, and restarted at its usual time at 1:30 p.m. The benchmark stock index closed 0.2 percent higher Monday, at 6,382.195.

“Trading continued as normal despite the grave incident, evidence that the disaster recovery plan set out by the bourse is working successfully,” Tito Sulistio, president director at the stock exchange, said in the aftermath.

Footage aired on local television station MetroTV soon after the collapse showed dozens of people lying on the ground at the entrance to the building, while debris was strewn across the lobby.

A search found no evidence of any explosive devices, the police said in a statement. The building’s management and the stock exchange will continue to investigate the cause of the floor’s collapse.

The stock exchange complex is comprised of two 32-floor towers, with the intact Tower 1 completed in 1994 and the damaged Tower 2 in 1998, according to the developer Sudirman Central Business District’s website. The building also houses the World Bank’s local office, according to the bourse’s website. 

The exchange switched to automated trading in May 1995, clearing the trading floor of brokers. President Joko Widodo visited the exchange on the last trading day of 2017, his third visit in 6 months.

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