Jakarta

DOLLAR sukuk returns are turning negative in Asia's biggest Islamic finance markets as confidence in government leaders sours amid a regional selloff.

Indonesia's Syariah-compliant sovereign bonds due in 2024 have dropped 3.8 per cent since April and the 2025 Malaysian debt lost 2.6 per cent, compared with a 2.4 per cent decline in a Bloomberg index of emerging-market conventional government notes. In that period, the rupiah plunged 6.4 per cent, and the ringgit 13 per cent.