SINGAPORE: A crash in Indonesian stocks is evoking memories of market meltdowns in Southeast Asia in the depth of the March swoon.
Regional shares have slipped after Jakarta’s surprise return to a lockdown sent Indonesian stocks 5% lower on Thursday before triggering a brief trading halt.
The volatility continued on Friday as the Jakarta Composite Index erased a loss of as much as 2.8% within first 20 minutes of trading. Some market participants are worried that such a move can further spook foreign funds who have been selling Asean stocks at an exceptional pace.