Monday, 16 September 2019 | 15:47 WIB

Rupiah Weakens Amid Concerns on Violent Protests in Hong Kong

Rupiah Weakens Amid Concerns on Violent Protests in Hong Kong (special)

JAKARTA, NETRALNEWS.COM - Rupiah exchange rate on the interbank level in Jakarta on Thursday (06/13/2019) morning has weakened as protests or demonstrations took place in Hong Kong.

The rupiah weakened by nine points or 0.07 percent to IDR 14,250 per US dollar, as compared to the previous position of IDR 14,241.

Samuel Aset Management economist Lana Soelistianingsih in Jakarta said Thursday that protests in Hong Kong could be an investment risk in Asia.

"The protests in Hong Kong, which developed into chaos, on Wednesday appeared to be an investor's concern or risk of investment," Lana said.

Hong Kong residents' protest against the Extradiction Bill to China was supported by business people. About 100 Hong Kong businessmen will temporarily shut down their operations as a sign of solidarity.

Many parties fear that the bill will ensnare people in mainland Chinese courts that are considered not transparent.

"Hong Kong is one of the financial centers in Asia. Correction of the stock market in almost all Asian exchanges yesterday could be a response to these concerns, but the possibility of this response is only temporary," Lana said.

Lana predicts that today the rupiah will strengthen in the range of IDR14,220 to IDR 14,240 per dollar.