Indonesia's JCI Plunges 3% to 6,382.5 as Rupiah Hits Record 17,754
Updated
Updated · Xinhua · May 19
Indonesia's JCI Plunges 3% to 6,382.5 as Rupiah Hits Record 17,754
1 articles · Updated · Xinhua · May 19
Indonesia's benchmark JCI closed the afternoon session down about 3% at 6,382.5 on May 19 after a sharp midday slide in Jakarta.
The rupiah fell to a record low near 17,754 per U.S. dollar, deepening investor anxiety over external conditions and continued foreign capital outflows.
Analysts said the sell-off was amplified after several Indonesian stocks were removed from MSCI indexes, extending already negative market sentiment.
The twin drop in equities and the currency underscores pressure on Indonesian assets as foreign investors pull back.
As foreign investors flee and markets plunge, does this crisis create a once-in-a-decade buying opportunity in Indonesia?
With global oil shocks and capital flight battering the rupiah, can Indonesia's central bank prevent a full-blown economic crisis?
Beyond rate hikes, what structural reforms can Indonesia enact to insulate its economy from future global financial turmoil?