MOSCOW - RUSSIA'S financial regulator on Friday delayed the opening of the country's two main stock markets after sharp falls in the United States and Asia.

'Following an order from the Federal Service for the Financial Markets, regular trading will be halted,' the RTS and MICEX exchanges wrote in statements posted on their websites.

The measure was taken to stem volatility after share prices in Asia went into a tailspin spooked by Wall Street's late sell off on Thursday.

In Moscow, the top indices on Russia's dollar-denominated RTS and ruble-based MICEX bourses bounced back by around 10 per cent on Thursday after several days of steep losses.

Known for their volatility even in the best of times, Russia's bourses have been on an especially wild ride this week, hit by spells of panic selling as investors reacted to turmoil on global markets.

Russia's two main stock indices have plummeted by more than 60 per cent since reaching record highs in May, in part due to a global credit crunch that began in the United States.

Thailand resumes trading
The Thai stock exchange reopened following a half-hour suspension of trading on Friday, after the index fell more than 10 per cent amid a global market meltdown.

Earlier, Thailand suspended trading on its stock exchange on Friday at the start of the afternoon session after the index fell by 10.02 per cent amid a global market meltdown.

The SET composite index had fallen 50.08 points by 2.30pm (3.30pm Singapore time), opening the afternoon session at 449.91, while the SET-50 bluechip index fell 37.94 points or 10.90 per cent to 310.20.

The drop was in line with regional markets amid fears of a global recession and financial meltdown.

The policy of the Securities Exchange Commission is to suspend the Thai bourse when stocks fall by more than ten per cent.

Indonesia stock markets suspended
Separately, Indonesia suspended morning trading on the local stock exchange Friday as Asian markets plummeted, backing away from an earlier plan to reopen the bourse after a two-day halt, an official said.

'We will suspend share trade in the morning session,' Indonesia bourse president director Erry Firmansyah told Dow Jones Newswires.

He said Indonesian authorities will continue monitoring the global market situation before deciding whether to lift the suspension in the afternoon session (starting 0630 GMT, 2.30pm Singapore time).

Indonesian Finance Minister Sri Mulyani Indrawati had said on Thursday night that trade would resume on Friday after a two-day freeze.

Trading on the Indonesia Stock Exchange was suspended after it plunged more than 10 per cent to a two-year low on Wednesday following huge losses on Wall Street, as global financial turmoil hit South-east Asia's largest economy.

Mr Indrawati on Thursday announced a raft of new rules to restore market confidence, including a government pledge to spend four trillion rupiah (S$622 million) to buy back shares in state companies.

The minister also announced new rules allowing companies to buy back up to 20 per cent of their paid-up capital in an effort to reduce selling pressure on the local bourse. -- AFP