Indonesian Stocks, Rupiah Weighed by Tariff PressureMarket Talk
Lezith SegalaIndonesian stocks tumbled as the market reopened after the Eid holiday, catching up to the declines in global equities that have racked up since Trump announced sweeping tariffs on trading partners last week. The benchmark Jakarta SE Composite Index opened 9.2% lower at 5912.06 as traders reacted to the 32% reciprocal tariff the U.S. has set for Indonesian goods. The rupiah touched a new record low, weakening to 16850 against the dollar. The tariff shock comes at a fragile time for Indonesian markets, which have experienced a wave of selloffs recently sparked in part by government policy shifts that have raised concerns about financial stability. (fabiana.negrinochoa@wsj.com)
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