Indonesian Stocks Slide as Prabowo Plans Tighter Commodity Export Oversight

Indonesian stocks fell on Wednesday after President Prabowo Subianto said the government would tighten oversight of commodity exports, a move that rattled investors in sectors central to Southeast Asia’s largest economy. The plan raised concerns about heavier state control, lower profitability for exporters and more uncertainty in markets already under pressure from fiscal strain and a weakening rupiah, according to Bloomberg.