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Indonesia's president holds meeting after sharp decline in stocks
August 8, 2011 / 6:55 AM / 6 years ago

Indonesia's president holds meeting after sharp decline in stocks

JAKARTA, Aug 8 (Reuters) - Indonesia’s President Susilo Bambang Yudhoyono said he is holding a cabinet meeting to formulate steps following a sharp decline in Southeast Asia’s biggest stock exchange on Monday.

Stocks in Indonesia fell around 5 percent and other Southeast Asian markets lost 2-3 percent after Standard & Poor’s on Friday downgraded the credit rating of the United States.

Reporting by Olivia Rondonuwu and Rieka Rahadiana; Editing by Ramya Venugopal

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