{"id":53813,"date":"2026-05-20T10:21:35","date_gmt":"2026-05-20T02:21:35","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=53813"},"modified":"2026-05-20T10:21:35","modified_gmt":"2026-05-20T02:21:35","slug":"indonesia-loses-southeast-asias-largest-stock-market-crown-to-singapore","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=53813","title":{"rendered":"Indonesia loses Southeast Asia\u2019s largest stock market crown to Singapore"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div id=\"\">\n<div datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1xdhyk6 ec74h0k0\"><a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/topics\/indonesia?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"noopener\"><span data-qa=\"Component-Text\" class=\"css-0 ef9u0v00\">Indonesia<\/span><\/a> continues to notch one grim milestone after another. The latest: losing its status as Southeast Asia\u2019s largest stock market to Singapore.<\/div>\n<div datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1xdhyk6 ec74h0k0\">The total market capitalisation of Indonesian-listed companies has fallen well over 30 per cent from a peak in January to US$618 billion, while <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/topics\/singapore?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"noopener\"><span data-qa=\"Component-Text\" class=\"css-0 ef9u0v00\">Singapore<\/span><\/a>\u2019s has climbed to US$645 billion, according to data compiled by Bloomberg.<\/div>\n<div datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1xdhyk6 ec74h0k0\">Investor sentiment in Indonesia has increasingly soured in recent months amid uncertainties over a potential equities reclassification to frontier markets, as well as Fitch Ratings and Moody\u2019s Ratings both cutting their credit rating outlooks to negative. Its stock benchmark sits at the bottom among global peers while the <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/week-asia\/economics\/article\/3354111\/indonesias-rupiah-sinks-record-low-prabowo-shrugs-rout-fears?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"noopener\"><span data-qa=\"Component-Text\" class=\"css-0 ef9u0v00\">rupiah<\/span><\/a> has touched a succession of record lows.<\/div>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The momentum may not be in Indonesia\u2019s favour at the moment, said Soh Chih Kai, a portfolio manager at Lion Global Investors. Still, a revival in the future should not be ruled out, he said.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cNevertheless, this reinforces the relative standing of the Singapore market as capital flows continue to reward certainty amid global policy uncertainty,\u201d Soh said.<\/p>\n<div datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1xdhyk6 ec74h0k0\">Singapore equities have benefited from economic and political stability, as well as government-led market reforms. The Straits Times Index climbed to a record this week as investors sought defensive havens during volatility sparked by the <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/topics\/us-israel-war-iran?module=breadcrumb&amp;pgtype=article?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"noopener\"><span data-qa=\"Component-Text\" class=\"css-0 ef9u0v00\">Iran war<\/span><\/a>.<\/div>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The island nation\u2019s stocks are on pace to outperform their Indonesian peers by the most on record in 2026.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.scmp.com\/news\/asia\/southeast-asia\/article\/3354161\/indonesia-loses-southeast-asias-largest-stock-market-crown-singapore\" target=\"_blank\" rel=\"noopener\">Read Full Article At Source <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indonesia continues to notch one grim milestone after another. The latest: losing its status as Southeast Asia\u2019s largest stock market to Singapore. The total market&#8230;<\/p>\n","protected":false},"author":1,"featured_media":53814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-53813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/53813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53813"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/53813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/53814"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}