Indonesia turns to economic nationalism as MSCI weighs a market downgrade after stock rout

Summary

After Indonesia's worst stock-market rout since the 1998 Asian financial crisis, President Prabowo Subianto's administration has turned to appeals to economic nationalism to shore up confidence and urged citizens to rally behind the battered stock market. The government has promised reforms in response to warnings from global index provider MSCI that Indonesia could be downgraded from emerging-market to stand-alone-market status. The available summary of the article is cut off before its analysts' assessment of whether these patriotic appeals will be enough.

Timeline

1. South China Morning Post

   22 Oct 2026, 08:00 UTCSource ↗

   The South China Morning Post reports that Prabowo's government is relying on economic nationalism to restore confidence after Indonesia's worst stock-market rout since 1998, and that it has promised reforms in response to MSCI's warnings of a possible downgrade to stand-alone-market status.