Indonesia stocks tank as downgrade risk triggers capital flight

Indonesia stocks tank as downgrade risk triggers capital flight

SINGAPORE - Indonesian stocks ‍on Thursday ‍were plunging toward their largest two-day fall on record as the risk of a downgrade to frontier market status triggered a headlong rush ‌for the exits.

Indonesian stocks tank as downgrade risk sets off rush for exits

SINGAPORE/JAKARTA: Indonesian stocks headed on Thursday (Jan 29) for their steepest two-day slump since 1998 during the Asian financial crisis, as the risk of a downgrade to frontier market status rattled already fragile investor confidence and triggered a rush for the exits. Authorities in Southeast Asia’s largest economy sought to stem the slide, which Finance Minister Purbaya Yudhi Sadewa called a temporary shock, saying there was no problem …