REPUBLIKA.CO.ID, JAKARTA - Indonesia's key index hit a three-month closing low on Friday, suffering the worst weekly loss since March amid political concerns while most other Southeast Asian stock markets eked out gains ahead of a key US jobs report.
Foreign investors sold financials and large caps such as Bank Rakyat Indonesia and Bank Mandiri, bringing Jakarta's composite index 1 percent lower at 4,949.35, the lowest close since July 4.
News that Indonesia's opposition coalition had won the position of the speaker of the legislature raised concerns that President-elect Joko Widodo may not be able to muster enough support in parliament to push through badly-needed reforms.
The benchmark posted a weekly loss of 3.6 percent, the biggest since the week ended March 21 and the worst performer in the region.
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