Indonesia has overtaken Malaysia and Thailand as the biggest emerging market in Southeast Asia. The combined value of companies traded in Indonesia reached $416 billion this week and has exceeded its neighbors for more than a month, the longest stretch since early 2013. Although Thailand held the top slot briefly, Malaysia was the leader most of the past three years, but stocks in Asia’s only net oil exporting nation plunged with crude, paving the way for Indonesia’s ascent.
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