Indonesia denies being intimidated after MSCI downgrades its stock market rating
MSCI considered downgrading Indonesia's market status and cited coordinated trading practices as a concern, prompting a 15 percent drop in the Jakarta Composite Index.
- MSCI considered downgrading Indonesia from emerging-market to standalone status.
- President Prabowo Subianto stated Indonesia will not be intimidated by MSCI.
- The Jakarta Composite Index plunged by around 15 percent over two days.
- Moody's and Fitch downgraded Indonesia's sovereign rating outlook to negative.
- MSCI cited coordinated trading practices as a concern.
Outlets: Fortune, Free Malaysia Today, International: Top News And Analysis, Katadata, SCMP Asia, The Diplomat, The Jakarta Post
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