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Indonesia's Stocks Close Tuesday Down
(MENAFN) Indonesia's benchmark Jakarta Composite Index (JCI) tumbled nearly 3 percent on Tuesday, closing the afternoon session at 6,382.5 as selling pressure mounted throughout the trading day.
The Indonesian rupiah simultaneously fell to an unprecedented low, touching approximately 17,754 against the U.S. dollar, as anxiety over external economic conditions and persistent foreign capital outflows weighed heavily on the currency.
Market analysts attributed the equity selloff to a combination of compounding pressures — most notably the exclusion of several Indonesian stocks from the Morgan Stanley Capital International (MSCI) index, a move that deepened already fragile investor sentiment. The rupiah's record depreciation further rattled confidence, prompting an accelerated wave of foreign investor withdrawals, local media reported.
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