Indonesia: Stocks turn negative, rupiah wilts after weaker-than-expected Q1 GDP
[JAKARTA] Indonesia's benchmark stock index erased early gains and fell 0.1 per cent after weaker-than-expected GDP data on Tuesday.
The index had been up as much as 1.2 per cent earlier on Tuesday before the annoucement.
Gross domestic product (GDP) expanded 4.71 per cent in January-March from a year ago, weakening from 5.01 per cent in the final quarter of last year. A Reuters poll of analysts had expected GDP growth at 4.95 per cent for the first quarter of this year.
The rupiah extended losses to 13,030 per US dollar, its weakest since April 1.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Tech, retail stocks boost Stoxx 600 to one-week high
US: Stocks climb for second straight day
Euro at highest to yen since 2008, markets nervy over Tokyo stepping in
Singapore stocks track Wall Street gains on Tuesday; STI up 1.5%
UBS lifts Chinese stocks to overweight in rare upgrade call
Asia: Most markets rise with earnings, US data in view