Reported 1 day ago
Indonesian stocks saw their biggest decline in over a decade, prompting a trading halt as fears over an economic slowdown and decreasing consumer spending weighed heavily on investor sentiment. The Jakarta Composite Index dropped by 7.1%, led by significant losses in PT DCI Indonesia and PT Bank Rakyat Indonesia. With forecasts for the country's economic growth faltering following a budget deficit and declining state revenues, foreign investors have withdrawn around $1.65 billion from local shares this year. As the market anticipates a rate decision from Bank Indonesia, concerns about currency stabilization and growth support continue to mount.
Source: YAHOO