Singapore Overtakes Indonesia With $645 Billion Market Cap as Jakarta Slumps Over 30%
Updated
Updated · Bloomberg · May 20
Singapore Overtakes Indonesia With $645 Billion Market Cap as Jakarta Slumps Over 30%
1 articles · Updated · Bloomberg · May 20
Singapore became Southeast Asia’s largest stock market after the value of its listed companies reached $645 billion, surpassing Indonesia’s $618 billion.
Indonesia lost the top spot as its market capitalization fell well over 30% from a January peak, while Singapore’s market value climbed.
The shift marks another setback for Indonesia, which has recently hit a series of negative market milestones.
The ranking change underscores how sharply equity values have diverged across Southeast Asia’s two biggest markets since the start of the year.
As its stock market crashes, is Indonesia’s booming retail sector revealing a hidden economic resilience?
Will a landmark trade deal with the U.S. be enough to shield Indonesia from a potential market downgrade?
Can Indonesia reform its way out of a crisis fueled by its own powerful political elites?