BusinessPhoto: NDTV BusinessIndonesian Stocks Plunge to 28-Year Low After MSCI Downgrade Proposal
Indonesian stocks experienced their steepest one-day drop in nearly 30 years after MSCI proposed reclassifying Indonesia from an emerging market to a standalone market, a status below frontier markets. The Jakarta Composite Index fell up to 11.57%, its worst since 1998, with major banks losing nearly 15%. The rupiah weakened close to record lows. This downgrade could trigger billions in capital outflows amid concerns over market transparency and ownership concentration.
NDTV Business··Jakarta



