Indonesian stocks dive 11% as MSCI weighs market reclassification
- Indonesian stocks plunged more than 11 per cent on Friday (Oct 16) as index compiler MSCI said it was "no longer appropriate" to maintain the country's emerging-market status, fuelling fears of an exodus of foreign investment.
- The US firm said earlier this year that investors had raised concerns about "ongoing opacity in shareholding structures" as well as coordinated trading behaviour that affected price information.
- Authorities in Jakarta said in April they had completed reforms, hoping to avoid the downgrade, which could deal a blow to government efforts to kickstart Southeast Asia's biggest
Unverified
- Indonesian stocks plunged more than 11 per cent on Friday (Oct 16) as index compiler MSCI said it was "no longer appropriate" to maintain the country's emerging-market status, fuelling fears of an exodus of foreign investment.
- The US firm said earlier this year that investors had raised concerns about "ongoing opacity in shareholding structures" as well as coordinated trading behaviour that affected price information.
- Authorities in Jakarta said in April they had completed reforms, hoping to avoid the downgrade, which could deal a blow to government efforts to kickstart Southeast Asia's biggest
Sources: CNA