Indonesia’s hawkish monetary stance; Vietnam not liking a gold rush

This week in Asean: 

• Vietnam: Holds first gold auction in 11 years to stabilise market
• Indonesia: Hikes rate to cushion falling rupiah
• Malaysia: Plans to build South-east Asia’s largest chip design park
• Thailand: Welcomes another China EV player to set up a production plant

Dear BT reader,

On Wednesday (Apr 24), Indonesia’s central bank surprised the market with an off-cycle raise of its benchmark interest rate by 25 basis points to 6.25 per cent to support the battered rupiah.