Indonesia's stock market has its worst day since 1998 after MSCI downgrade warning
Indonesia's Jakarta Composite index fell about 11% on Friday, its steepest one-day drop since 1998, after index provider MSCI said Indonesia's emerging-market classification is "no longer appropriate" and opened a consultation on making it a standalone market. It is not a final decision; MSCI is taking input until April 30, 2027. Funds that track MSCI's emerging-market indexes could be forced to sell Indonesian stocks. Elsewhere in Asia, stocks rebounded after Thursday's tech selloff.
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Sources
- AP via KSAT: Stocks rebound after tech sell-off and Indonesia shares sink
- AFP via Yahoo Finance: Indonesian stocks dive 11% as MSCI weighs reclassification
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