The turmoil followed a proposal by MSCI to strip Indonesia of its emerging-market status and reclassify it as a standalone market due to concerns over market integrity and transparency. Jakarta attempted to stabilize the market by fining three companies approximately $117 million for manipulative trading practices and convening emergency meetings between the finance ministry and central bank. MSCI makes a final determination on the reclassification in June.
Wednesday, October 21, 2026
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Indonesian Equities Crash to 6 Year Low on MSCI Warning
Global Markets2 days ago
Shares in Southeast Asia’s largest economy plunged more than 11% in a single session, extending a selloff that has wiped out nearly 40% of the market's value this year. The rout drove the $565 billion equity market to its lowest level in 6 years and pushed the rupiah to 18,000 per dollar, marking the worst instability for the nation's stocks since the Asian Financial Crisis of 1998.
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