JAKARTA, May 18 (Xinhua) -- Indonesia's Jakarta Composite Index (JCI) plunged around 4 percent at Monday's market opening after an extended holiday break.
Meanwhile, the rupiah briefly touched a record low of around 17,601 against the U.S. dollar in recent days before trading at around 17,583 today, according to central bank exchange rate data.
Analysts said the decline was driven by a stronger U.S. dollar, foreign capital outflows, rising oil prices, and concerns over a global economic slowdown weighing on emerging markets, including Indonesia, according to local media.
Market participants predicted the JCI could remain bearish in the near term if global pressure persists and risk-off sentiment continues to dominate international financial markets. ■
