The IDR rupiah continued its restricted fall as investors were concerned that the May Day demonstrations would result in violence. Those concerns were ungrounded but the demonstrations did heavily disturb Jakarta's traffic. The rupiah's movement on Wednesday was limited as a number of stock exchanges and other financial institutions were closed, and because Indonesia's deflation in April reduces changes that Bank Indonesia will raise its benchmark interest rate (despite increases in electricity and toll road tickets prices). The weakening US dollar, ahead of the Federal Open Market Committee (FOMC) meeting, also meant that the rupiah's decline was limited.

| Source: Bank Indonesia

China's stock index weakened as a number of companies presented performance results that did not meet investors' expectation (such as Alps Electric Co or Tokyo Electron Ltd). Speculation emerged that a number of Asia's central banks will not raise interest rates as inflation figures of South Korea, Thailand and Indonesia were well-received. China's Manufacturing PMI went from 50.9 to 50.6 in April.