Indonesia Stocks Crash 11.6% as MSCI Threat Sends Rupiah to Record Low
Photo: Coinpedia
Indonesia’s Jakarta Composite Index plunged 11.6% after MSCI threatened to downgrade the country’s market status. Goldman Sachs warned that an MSCI downgrade could trigger $5.6 billion in passive fund outflows. Indonesian regulators introduced new disclosure rules and announced 2.1 trillion rupiah in fines against three companies. Indonesia’s financial markets have crashed after Morgan Stanley Capital International (MSCI) threatened to downgrade the country from an emerging market to a standalone market. The warning triggered a sharp sell-off, with the Jakarta Composite Index falling 11.6% in one day and losing around $82 billion in market value over two days.
Source: Coinpedia
