Shares of Indonesian state banks tumble as investors grow wary of Danantara

Shares of Indonesian state banks tumble as investors grow wary of Danantara

FILE PHOTO: A worker wearing a protective mask cleans the floor near an electronic board displaying the stock market index at the Indonesia Stock Exchange (IDX), as the outbreak of the coronavirus disease (COVID-19) continues, in Jakarta, Indonesia, September 8, 2020. REUTERS/Willy Kurniawan

Two weeks ago, Indonesia launched a much-anticipated sovereign wealth fund, named Danantara, hoping in part to raise the odds of achieving President Prabowo Subianto’s 8% growth target and also to emulate the success of Singaporean state investor Temasek Holdings.

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