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Indonesian stocks plunge as MSCI considers market downgrade

By ChordNews · First written

Indonesian Stocks Plunge as MSCI Threatens to Drop Market from Indexes
Image: nytimes.com
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Summary

Indonesian stocks plunged 11% as MSCI considered reclassifying the country from emerging-market to standalone status, a move that could force funds tracking its emerging-market indexes to sell Indonesian holdings, Euronews reports. The New York Times says the potential downgrade adds to a deepening crisis of investor confidence in the economic policies of President Prabowo Subianto.

Later: Indonesian stocks hit six-year low as MSCI downgrade fears mount · Indonesia moves to fend off MSCI downgrade by removing tightly held companies from its index · Bank Indonesia faces mounting pressure to hike rates after MSCI threat sparks market rout · Indonesia turns to economic nationalism as MSCI weighs a market downgrade after stock rout · Indonesia's President Prabowo Subianto is losing support as his erratic policies hold back the country

Timeline

  1. Euronews

    Source ↗

    Euronews reports that Indonesian stocks plunged 11% as MSCI weighed reclassifying the country from emerging-market to standalone status, potentially forcing index-tracking funds to sell their Indonesian holdings.

  2. The New York Times

    Source ↗

    The New York Times reports that MSCI's potential downgrade adds to a deepening crisis of investor confidence in President Prabowo Subianto's economic policies.

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