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Rupiah rout mauls Indonesia-linked Singapore stocks
10 biggest counters with substantial Indon exposure fell 8.8% from January to August
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Published Wed, Sep 5, 2018 · 09:50 PM
Singapore
AS INDONESIA fights to shield the battered rupiah with a mix of rate hikes and market-intervention measures, Singapore-listed firms with exposure to South-east Asia's biggest economy are feeling the pinch as the currency stoops to its lowest ebb in 20 years.
On Wednesday, amid a sharp sell-off in emerging-market assets, the rupiah that has fallen over 2 per cent in recent days trudged past the 15,000 handle against the US dollar - some way off the 16,650 level it plumbed to back in 1998 but inching closer. Year to date, it has fallen 9 per cent.
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