Indonesia’s main stock index fell nearly 4 per cent on Tuesday as concerns mounted over weakening consumer spending in south-east Asia’s largest economy and President Prabowo Subianto’s costly spending plans.
The Jakarta Composite index dropped as much as 7.1 per cent to hit its lowest level since 2021, triggering a brief trading halt. The market closed down 3.8 per cent after paring some losses.
The index has fallen 14.8 per cent in the past year and is among the worst performers globally. The rupiah has also dropped about 2 per cent against the dollar this year.
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