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Jakarta Post

Market ignores terrorist bombs

  • The Jakarta Post

Jakarta   /   Wed, July 22 2009   /  08:50 am

The Indonesian financial market has apparently ignored the terrorist bombing attacks that rocked the JW Marriott and Ritz Carlton hotels in Jakarta on Friday, killing nine and injuring more than 50 people, including foreigners. It is also unlikely that Indonesia’s economic fundamentals will suffer a severe loss. As was the case following the four previous major terrorist attacks in Bali and Jakarta between 2002 and 2005, only the tourism and travel industries will likely feel a temporary shock. But anyway, international tourism has been weakening since the outbreak of the global financial crisis and sharp economic downturn since last July. The financial market is usually the most vulnerable to uncertainty because portfolio investors can easily move their money from one place to another, so it is really encouraging that the market has remained fairly calm. But wh...