#SellIndonesia vs #SellSingapore: market sell-off fuels cross-border digital feud
A sharp sell-off in Indonesian assets has taken on a political tone online, with some social media users alleging, without evidence, that Singapore stands to gain from a “Sell Indonesia” narrative around Southeast Asia’s biggest economy. The rupiah has slipped to multiple record lows and weakened about 8 per cent this year, crossing a key level and trading above 18,000 to the US dollar last week, while Jakarta’s stock market has lost about a third of its value since the start
Politics and finance collide as some social media users claim Singapore stands to gain from negative sentiment towards Indonesia
That prompted a counter-hashtag, #SellSingapore, on Indonesian social media, with users accusing the city state of benefiting from negative sentiment towards Indonesia.
The backlash has also been picked up by political figures, including Jansen Sitindaon, deputy secretary general of Indonesia’s Democratic Party, who framed it as a nationalist response by Indonesian netizens.
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