Southeast Asia’s export-dependent economies saw new tariffs imposed last week by US President Donald Trump that exceeded market expectations. The regional gauge has lost 11% since the levies were rolled out. Thailand and Indonesia were already among the world’s worst performing equity markets.
Southeast Asian equity markets plunged as investors fled riskier assets on concerns that a trade war will hurt the region’s economies.
Most regional stock benchmarks tumbled, with the MSCI Asean Index dropping as much as 3.2%. Indonesia’s gauge triggered a halt and sank as much as 9.7%, as trading resumed for the first time since March 27.
