WEEKEND bomb blasts that killed nearly 200 foreign vacationers in Bali also tore a hole in one of the Asia’s weakest economies yesterday.

　　The Jakarta stock market tumbled more than 9 percent in early trading and Indonesia’s currency took a dive, as investors recoiled at renewed terrorism attacks and fears of copycat attacks elsewhere.

　　Market weakness spread throughout the region with markets in Bangkok, Manila and Kuala Lumpur also tumbling. Exchanges in two of the region’s biggest players, Tokyo and Hong Kong, were closed for holidays, while markets in Taipei, Sydney, Singapore and Seoul posted cautious gains.

　　For Asia’s most fragile economy, however, Saturday’s bombings on the popular resort island of Bali were already undercutting one of Indonesia’s biggest industries: Tourism. Droves of panicked travelers were heading out of Indonesia yesterday.

　　The oil industry, Indonesia’s other major economic anchor, could also take a hit. Oil and gas firms throughout the country, a member of the powerful Organization of Petroleum Exporting Countries, were tightening security amid talk they could be targets.

　　Such aftershocks were already being felt yesterday. In midday trading, the Jakarta stock market tumbled as much as 9.2 percent to 341.85, its lowest level in 18 months, and the rupiah currency dived to a five-month low against the U.S. dollar.

　　International investment bank JP Morgan also jacked up its currency forecast, saying the dollar would hit 10,000 rupiah by year’s end, up from predictions of 8,700 rupiah.

　　Such a plummet would only hamstring the Indonesian economy, making it harder for businesses to buy imports and slashing the spending power of people in the streets.

　　(SD-Agencies)