Indonesia Assets Slide as Moody’s Outlook Cut Hurts Sentiment

Indonesia’s assets slid on Friday after Moody’s Ratings cut the country’s credit outlook to negative, adding to investor unease over fiscal risks and market liquidity.

Stocks tumbled as much as 2.7%, while 10-year bond yields jumped 11 basis points to a four-month high. The rupiah weakened toward the key psychological level of 17,000 per dollar.