Jakarta Composite Index Falls 4% on Third Consecutive Day, Heading Toward Lowest Close Since November 2020

According to Sucor Sekuritas chief economist Ahmad Mikail Zaini, Indonesia's benchmark Jakarta Composite Index dropped 4% on the third consecutive trading day, heading toward its lowest close since November 2020. Policy uncertainty, rating downgrade risks, and a weakening Indonesian rupiah are putting pressure on the equity market. The index has declined 8% week-to-date and is tracking its fourth consecutive week of losses, with a year-to-date cumulative decline of approximately 35%.
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