According to Jinshi Data, as the strengthening of the US dollar weakened the attractiveness of emerging market assets, the Indonesian stock market experienced capital outflows for 15 consecutive trading days, with foreign capital outflows reaching US$891 million in November.
Indonesia's benchmark stock index is on the verge of a correction, having fallen about 9 percent from its all-time high on Sept. 19. A resurgent dollar and rising U.S. Treasury yields have wreaked havoc on emerging market assets.
The rupiah has fallen 1% this month. Foreign investors sold a net $810 million of Indonesian government bonds this month, the first outflow since April, Finance Ministry data showed.