Kiev - Ukraine's government on Friday ordered the stock market to stay closed, stopping shares trading by state instruction for the third time this week.

Management of the nation-leading PFTS stock exchange said it might allow shares trading later in the day, depending on the situation in both domestic and international markets.

The announcement came after a full day of trading on Thursday, during which stocks listed on the PFTS sank on average some 14 per cent in value.

The Ukrainian government halted trading on Wednesday and Monday as well in an a so-far unsuccessful attempt to slow panic sweeping the market, as Ukrainian shares have been dragged down by bad news in the US, Europe, and Asia.

Overall Ukrainian share value has fallen an aggregate 17 per cent since the beginning of October, and 73 per cent since January.

Among those with the biggest losses have been Ukrainian banks, metals and chemicals, and agricultural manufacturers. All are dependant on strong international demand for industrial or agricultural commodities. (dpa)