Asian currencies: Rupiah hits fresh low – Business & Finance
BENGALURU: Asian emerging market equities tanked for a fifth straight session on Wednesday as US President Donald Trump’s “reciprocal” tariffs on dozens of countries, including the eye-watering 104% levies on Chinese goods, went into effect. Indonesia’s rupiah hit a fresh lifetime low, while yields on the 10-year benchmark bonds crept higher towards a mid-January high as traders worried about the fallout of escalating trade tensions and domestic economic concerns. Trump’s punishing tariffs, including the massive levies on China, deepened the carnage in financial markets globally and caused a sell-off in...