ASEAN Macro Daily(Beta Mode)
Rupiah Sinks to Record Low on Outflows
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| JCI | 7,634.00 | +0.17% |
| SET | 1,482.45 | -0.49% |
| KLCI | 1,695.21 | +0.33% |
| PSEi | 5,999.13 | -1.06% |
| STI | 4,997.93 | -0.20% |
| USD/IDR | 17,184.00 | +0.36% |
| USD/THB | 31.99 | -0.16% |
| USD/MYR | 3.95 | -0.04% |
| USD/PHP | 59.84 | -0.25% |
| USD/SGD | 1.27 | -0.28% |
| Brent Crude | 94.28 | +4.32% |
| Gold | 4,841.00 | -0.34% |
| Bitcoin | 76,122.13 | +3.07% |
| Indonesia 10Y Govt Yield | - | - |
| Thailand 10Y Govt Yield | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Crude Oil Price | Type: macro_line | Brent Oil Price (USD): 123.3 (2026-04-13) | Range: 59.93–138.2 | Trend(6pt): 64.02,117.3,90.99,82.69,119.1,123.3
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Central Bank Interest Rate Decision | 4.75 | 4.75 | 23:30 |
| Central Bank Interest Rate Decision | 4.25 | - | 22:30 |
- Indonesian rupiah hit historic low of 17,184 per USD amid S&P negative outlook, Middle East tensions, and capital outflows, pressuring BI policy.
- Thai government considers lifting public debt ceiling for $30B borrowing to address economic issues, amid stagflation risks post-Songkran.
- Malaysia's low inflation buffers energy supply shocks, with BNM noting resilience to higher oil prices despite global volatility.
Yesterday's Recap
ASEAN equities displayed mixed results amid rupiah weakness and rising oil prices, with Indonesia's JCI up 0.17% to 7,634.00, supported by commodity exporters benefiting from Brent's 4.32% jump to 94.28. Thailand's SET declined 0.49% to 1,482.45, pressured by foreign outflows and stagflation concerns after the Songkran holiday. Malaysia's KLCI rose 0.33% to 1,695.21, aided by semiconductor recovery and BNM's positive inflation outlook.
Philippines' PSEi fell 1.06% to 5,999.13, affected by regional FX volatility despite USD/PHP easing 0.25% to 59.84. Singapore's STI slipped 0.20% to 4,997.93, with banks countering tech softness as rupiah depreciation raised concerns for Indonesian trade and arrivals. Broader FX moves included USD/IDR rising 0.36% to 17,184.00, driven by S&P's negative outlook on Indonesian bonds and Middle East fears.
USD/THB dipped 0.16% to 31.99, USD/MYR fell 0.04% to 3.95, and USD/SGD decreased 0.28% to 1.27. No major data releases occurred, but news focused on rupiah's plunge impacting regional demand and Singapore businesses.
The Day Ahead
Focus shifts to Bank Indonesia's interest rate decision tomorrow at 23:30 ET, with consensus for a hold at 4.75% amid rupiah weakness, inflation pressures, and limited room for cuts. The Philippines' BSP rate announcement follows on April 22 at 22:30 ET, with previous rate at 4.25% but no consensus available, potentially addressing remittance flows and growth. No other ASEAN events are listed, leaving markets to process global oil trends and geopolitical risks.
Traders will watch for BI statements on FX interventions to stabilize the rupiah, with possible spillover effects on Vietnam and Thailand from regional currency dynamics. These decisions may underscore varying approaches to balancing inflation and stability.
Other Economic Notes
ASEAN trends highlight Thailand's e-commerce boom as a key growth driver in Southeast Asia, amid market consolidation. Thailand also eyes an EU trade deal to navigate shifting global barriers and plans a 500 billion baht borrowing via emergency decree to tackle economic challenges. Indonesia's economy is linked to Danantara's performance per S&P, with potential in AI and energy if governance improves.
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