Indonesian market plunges on MSCI reclassification warning
MSCI MSCI Inc
$569.08 -1.05%
View chart & analysis → - 1The Jakarta benchmark index fell more than 5% on Monday as MSCI considers transitioning Indonesia from an emerging market to a standalone market.
- 2The rupiah exchange rate reached 18,040 per dollar on Monday, approaching the June record low of 18,190.
- 3Indonesian regulators disclosed fines totaling $116.4 million on Friday against those involved in alleged market manipulation.
So what's the key point?
Stock prices fell by more than 5% because MSCI is considering changing how the Indonesian market is classified. As the value of the Indonesian market decreased, the exchange rate also approached a record low.
Source Reuters · View original ↗
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