Delivery Driver’s Death Unleashes Fury Against Indonesia Elites
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Diverging Reports Breakdown
Indonesia, Thai Stock Outlooks Buffeted By Political Risk
Indonesia’s equity market retreat was the biggest in the world on Friday. Protests in Indonesia are ratcheting up political risk in the country. In Thailand, politicians are jockeying to lead the next government.
Indonesia’s equity benchmark slid 1.5% on Friday, the biggest decline in the world among national gauges tracked by Bloomberg. Thailand’s 1.1% equity market retreat the same day also placed it among the most notable laggards.
President Prabowo Subianto canceled a trip to China following the deadly unrest over rising living costs and inequality, as demonstrators targeted the homes of Indonesia’s finance minister and several lawmakers. In Thailand, politicians are jockeying to lead the next government after the disqualification of Prime Minister Paetongtarn Shinawatra.
The headwinds flared up just as lower valuations and potential interest-rate cuts raised the prospect of a rotation to Southeast Asia by some global funds.