The second floor of the Indonesia Stock Exchange collapsed into the lobby, injuring scores of people. Jakarta Police report that 75 people were injured, while three local hospitals have taken in 52 people - most of whom have injuries to their legs and arms.
A group of touring college students were among the injured according to local media.
The moment of collapse can be seen here:
Uni students were visiting today too #jakartastockexchange source unknown pic.twitter.com/rtDK2jkqIh
— lesley (@sassenfrazz) January 15, 2018
Un étage d'un immeuble abritant la Bourse de #Jakarta s'est effondré. Au moins 75 personnes blessées #Indonésie #RTSvidéo Lire: https://t.co/yZghUeMGzq pic.twitter.com/OkmuRDjgch
— RTSinfo (@RTSinfo) January 15, 2018
Selasar atap Tower II Bursa Efek Indonesia (BEI), Senayan, Jakarta, roboh pada 15/1/2018 pukul 12.10 Wib. Puing menimpa sejumlah orang yang berada di bawahnya. Beberapa korban luka dirawat di RS Mintoharjo, RSPP dan MRCCC. #BreakingNews #ElshintaHotNews # pic.twitter.com/1Qy2ElRQz6
— Sutopo Purwo Nugroho (@Sutopo_PN) January 15, 2018
Scene at Jakarta stock exchange now pic.twitter.com/aHJCfW2oFU
— Adam Harvey (@adharves) January 15, 2018
According to Nick Owen, Indonesia correspondent for The Economist, "The stock exchange is one of Jakarta’s most modern buildings, hosting offices of World Bank and others. Not where one would expect such a disaster to occur."
The stock exchange is one of Jakarta’s most modern buildings, hosting offices of World Bank and others. Not where one would expect such a disaster to occur https://t.co/IG61tU0GxU
— Nick Owen (@n1ck0wen) January 15, 2018
According to Bloomberg, "The stock exchange complex is composed 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."
In September 2000, the building was attacked in a suicide bombing by Islamic militants, however a bomb has been ruled out in yesterday's collapse. The stock exchange said it would continue trading as normal "without significant change to the trading schedule."
Comments
No one can top the Asians when it comes to safety.
The bottom fell out of the market.
It's supposed to be a metaphor.
In reply to No one can top the Asians… by FGopher
Zh has been predicting a stock market collapse but not exactly what they meant. Is this history rhyming or is it rapping mah person who annoys people?
And they're such tiny guys. You would think the twirling fart knockers would not strain the system at all.
This is your chance to get in on the basement floor.
In reply to The bottom fell out of the… by ThanksChump
Bought in at the floor, still lost money fml.
In reply to Zh by Moe-Monay
Lemme guess: shoddy shithole construction?
In reply to Bought in at the floor,… by QueeroHedge
I’m making over 14k a month working part time from home as an unlicensed architect for shithole countries. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do...
https://www.zerohedge.com/news/2018-01-15/75-injured-after-floor-collapses-indonesia-stock-exchange#comment-11001692
In reply to Lemme guess: shoddy… by Klassenfeind
This is just how they set up the "circuit breakers" over there. Market gets too volatile, they hit the "collapse building" button. Trading halted.
In reply to Lemme guess: shoddy… by Klassenfeind
I just saw a video of various rag heads wandering around a shoddily constructed building.
Sounds like just the place to invest my money.
In reply to Lemme guess: shoddy… by Klassenfeind
Looks like everyone stopped by the Starbucks there and discussed their feelings after the second most stable floor of the building gave way under less than a hundred person load.
In reply to Lemme guess: shoddy… by Klassenfeind
Looks a lot like that hotel walkway in Kansas City that collapsed many years ago...
In reply to The bottom fell out of the… by ThanksChump
A key difference is that in KC the suspended balcony/walkway was packed with people. In this case there was no live load only the weight of the structure. Could be a design flaw that was slowly getting worse since '98, could be a material flaw that finally cracked far enough (same for a construction flaw such as welding) or hi-jinx.
In reply to Looks a lot like that hotel… by Withdrawn Sanction
Harbinger much?
In reply to The bottom fell out of the… by ThanksChump
Chinese Grade 8 Failure.
I can see it from here.
In reply to No one can top the Asians… by FGopher
Bamboo don't last forever.......just sayin.
In reply to No one can top the Asians… by FGopher
BTFD!
In reply to No one can top the Asians… by FGopher
A literal market crash.
shithole
That hole looks like a (bitcoin) mine shaft ?
In reply to shithole by mel3
A prophetic omen - what's to come if you buy the bubble
Shithole Defined:
- Cannot build a two-story building that can withstand people being on second floor.
When it bottoms to the floor BUY
Too many hidden messages here to count
BTFD, Mohamed.
They forgot to install a central bank under it...to keep it propped up.
I won't buy that construction company's stawk.
and that, was their "most modern" building. egad.
Double top correction
Looks like the supporting struts for the mezzanine failed at the lower connection points as the background group of students came on to it.
I think they are emerging from the elevators(s) in a tight group.
They may be all males, as the foreground group appears to be mostly females (usual separation in muslim countries)
It's possible they exceeded the design limits of the floor, the nearest of the strut connections gave out, with the rest fractionally after.
Possible other causes:
Strut connection not tightened properly
Inferior materials
The heavy marble flooring being a later addition and not adjusted for
Repeat stress loading (fatigue) as groups wait for and enter/exit the lifts.
Personally, I would expect the gallery to have been designed for a much higher floor loading, since it is entirely predictable that large numbers could gather on it. I expect the number of supporting struts was minimized, and lower supports eliminated, in order to give a 'cleaner' look.
Walkways like this are very easy to get wrong, including the worst collapse in US history in 1981
https://en.wikipedia.org/wiki/Hyatt_Regency_walkway_collapse
Likely all the above... plus poor engineering.
In reply to Looks like the supporting… by CRM114
Land Whale American tour groups were never taken to that section of the exchange.
In reply to Likely all the above... … by Yellow_Snow
It's pretty clear what happened. The 2x8 floor joists separated from the ledger plate. Probably used nailed metal joist hangers. The weight of the people on the outside edge of the joists pulled them up and away from the ledger board. In other words, the walkway was built like a deck.
In reply to Likely all the above... … by Yellow_Snow
yike!
In reply to It's pretty clear what… by Baron von Bud
They should have been able to stack bodies 10ft high on that walkway without it giving way. Whoever designed and put their building together clearly had no idea what they were doing, they should stick to what they do best, goats.
In reply to Looks like the supporting… by CRM114
Peter Schiff was right!
I hope they're not litigious
Walking around with pockets full of heavy (overvalued) bitcoins.
If only Janet were there. She knows a thing or two about keeping a floor up.
Stocks......house of cards.
Group of overweight muslim women
If the Jakarta central bankers had only printed more money there is no way the floor would have dropped out on them! / sarc
If the Jakarta central bankers had only printed more money there is no way the floor would have dropped out on them! / sarc
Still not as bad as being told that a nuke missile is heading your way
Now that's what I call a stock market crash.
we all gripe about cnn but I had to check six different fucking links that all had the same identical copy-paste story before i could even determine what time it happened:
Valentina Simon, head of Institutional Relations at the exchange, told CNN the collapse happened at around 12:30 p.m. local time. She described the lobby as an open space where tourists would gather, and buy drinks and snacks from a coffee shop on the ground floor.
The lobby was crowded at the time of the collapse, just after people had finished lunch...
http://www.cnn.com/2018/01/15/asia/jakarta-stock-exchange-intl/index.ht…
at least they went to the trouble of making a few phone calls.
Looks like one of the 'house of cards' collapsed today... a bad omen ?
Seasonings & spices are heavier than first thought
Fake news.
The economy is fundamentally strong and the floor is not about to drop out of the stawk markit.
Yahw- um, I mean, Allah, hehe, is protecting our Chosen traders as they steer the world economy to a permanently high plateau.
Indian builders? lol In Africa, the amount of collapsed buildings in the 90's and early 2000's was legendary. They would erect buildings and build it without the required amount of reinforced steel rods, to save money and when the building collapsed the entire Indian family would up sticks and leave the country.
This same phenomenon was also a regular occurrence in India itself, until the authorities rooted out the perpetrators of dodgy building practices. The Indians did the same with selling counterfeit drugs without the active ingredients was an exclusive Indian crime. Don't trust the Indians.
Premium Chinese steel leftover from Mao's great backyard smelting experiment?
"What we do with this shit?"
"Send to Indonesia."
Collapsed under the weight of it's own corruption, er, construction, er...?
Pagination