Indonesia First in Asia to Erase This Year's Stock Market Rally
- Jakarta benchmark fell for a second day, down 2.4% this week
- Global and domestic factors impacted stock market: Ciptadana
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The Indonesian stock-market slump deepened Tuesday as foreign funds pulled out of the local market. With almost every other Asian market still in the green, it is now the first in Asia to lose the rally it posted earlier this year.
The Jakarta Composite Index fell as much as 1.7% Tuesday, extending its decline after three weeks of losses as concerns surrounding the escalating U.S.-China trade war hit markets across Asia. The benchmark index erased this year’s surge on Monday.