President Prabowo Subianto cancelled a trip to China following the deadly unrest over rising living costs and inequality, as demonstrators targeted the homes of Indonesia’s finance minister and several lawmakers. In Thailand, politicians are jockeying to lead the next government after the disqualification of Prime Minister Paetongtarn Shinawatra.
Intensifying protests in Indonesia and the latest leadership upheaval in Thailand are ratcheting up political risk in the two largest emerging stock markets in Southeast Asia.
Indonesia’s equity benchmark slid 1.5% on Friday, the biggest decline in the world among national gauges tracked by Bloomberg. Thailand’s 1.1% equity market retreat the same day also placed it among the most notable laggards.
