Stacks of money: A Bank Mandiri employee stands near stacks of rupiah banknotes waiting to be delivered to branches, at the bank’s headquarters in Jakarta. Many thought the falling rupiah could spark off a stock market sell-off but the panic button was not pushed for several reasons. — Reuters
PETALING JAYA: Dominating financial headlines last week have been one of these three: Indonesia’s currency crisis, emerging markets headed into a bear market or the US-China trade war intensifying.
Indonesia’s plunging rupiah particularly caused a panic with many thinking perhaps this could spark off a stock market sell-off. After all the stock markets have been having a bullish run since 2009 along with the US stock market.
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