US EditionIndonesian stocks tumble 7% on concerns over economy
- Indonesia's stock market fell over 7% on a single day, resulting in a trading halt for the first time since 2020, according to reports.
- Finance Minister Sri Mulyani Indrawati denied rumors of her resignation during a press conference, stating, "We are here, we are responsible."
- Market analysts highlighted concerns over President Prabowo Subianto's fiscal strategy amidst declining tax revenues and weak consumer sentiment.
- The Indonesian rupiah became Asia's worst-performing currency this year, sliding to a two-week low against the US dollar and contributing to investor uncertainty.
15 Articles
15 Articles
Danantara: Indonesia's ticking financial time bomb
Indonesia has long walked a tightrope between ambition and overreach. It is a nation of immense potential, yet also one where fiscal mismanagement has historically led to economic crises. President Prabowo Subianto’s administration, with its aggressive push to create Danantara, a sovereign wealth fund supposedly modeled after Singapore’s Temasek, has placed the country on a […] The post Danantara: Indonesia’s ticking financial time bomb appeare…
Indonesian Stocks Plunges 7% as Investors Flee Prabowo's Economic Policies
Trading halted on the Jakarta Stock Exchange yesterday as the market plummeted by 7.1%, forcing officials to suspend trading for 30 minutes. The Jakarta Composite Index (JCI) recovered slightly to close down 3.8% at 6,223.39, marking its lowest point since September 2011. The market collapse reflects growing investor anxiety about President Prabowo Subianto’s economic policies […]
Stock Market Plunge Signals Fading Indonesian Economy
By: Ainur RohmahPlagued by steeply climbing state debt and spooked by erratic economic policies pushed by President Subianto Prabowo, the Jakarta Composite Index plummeted so sharply on March 18 that officials halted trading for 30 minutes, the market’s worst performance since the onset of the Covid-19 pandemic.Analysts say the steep correction isn’t solely due to external factors but is also driven by a combination of domestic issues that have …
Indonesia May Hold Rate as Stocks, Trade Turmoil Threaten Rupiah
Indonesia’s central bank may hold its key interest rate unchanged to support the rupiah, opting for stability after the nation’s veteran finance minister was forced to deny resignation rumors that sent stocks tumbling.
Coverage Details
Bias Distribution
- 40% of the sources lean Right
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
