The Zimbabwe Stock Exchange instituted a trading halt on the ZSE Markets just after midday this Monday after the ZSE All Share index breached the 10% threshold on the upside.
According to a public notice issued this afternoon by Zimbabwe Stock Exchange Limited Chief Executive Officer Justin Bgoni, trading will resume on Tuesday, 16 May 2023. Reads the notice:
Pursuant to a ZSE public notice dated 28 April 2022 on changes to ZSE trading operations the Zimbabwe Stock Exchange Limited (“ZSE”) hereby notifies the market that it has instituted a trading halt at 12h38 on the 15th of May 2023 on the ZSE Markets after the ZSE All Share index breached the 10% threshold on the upside.
Given that it is the end of the trading session, trading will resume tomorrow 16th May 2023 as usual.
Investors use the term “circuit breaker” to describe an emergency-use regulatory measure that temporarily halts trading on an exchange.
Circuit breakers attempt to curb panic-selling and can also be triggered on the way up with manic-buying.
Circuit breakers function automatically by stopping trading when prices hit predefined levels in exchanges around the world.
