Indonesian Users Launch #SellSingapore as Billions Exit Markets and Fiscal Fears Stoke Backlash
Updated
Updated · South China Morning Post · Jun 18
Indonesian Users Launch #SellSingapore as Billions Exit Markets and Fiscal Fears Stoke Backlash
3 articles · Updated · South China Morning Post · Jun 18
Summary
#SellSingapore spread on Indonesian social media after a market sell-off fueled claims that Singapore was benefiting from negative sentiment toward Indonesian assets.
"Sell Indonesia" had already become shorthand among commentators and online users for cutting exposure to the country as economists warned over fiscal concerns and investors pulled billions of dollars out.
Singapore became the target of a cross-border digital backlash, with Indonesian users casting the city-state as a winner from capital flight and worsening sentiment.
Jansen Sitindaon, deputy secretary general of Indonesia's Democratic Party, amplified the reaction by describing the hashtag campaign as a nationalist response by Indonesian netizens.