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Indonesia strengthens measures against stock manipulation after market rout triggered by MSCI
- On Monday, Indonesia introduced new measures to combat stock market manipulation, including adding independent parties like academic F. Chapman Taylor to oversee stocks with concentrated ownership structures, after MSCI threatened potential market demotion.
- MSCI warned earlier this month that Indonesia could be demoted to "standalone" or "frontier" status, citing insufficient action against coordinated trading practices—a more severe stance than their previous January warning.
- The Indonesia Stock Exchange will exclude 80 stocks with high shareholding concentrations from its main index starting Nov 2 and launch investigations to freeze suspicious accounts when detecting coordinated trading.
- Market data showed the index down around 0.6 per cent on Monday, though financial regulator Hasan Fawzi described local investors as "mature" and "wise" for buying stocks with sound fundamentals.
- President Prabowo Subianto told his cabinet last week that MSCI was trying to "intimidate" Indonesia, while regulators continue communicating with global index providers like FTSE Russell to reiterate their commitment to market reforms.
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Global index provider threatens to cut Indonesia off from international investment
The threat to reduce Indonesia to “standalone” status in the MSCI index resulted in the biggest fall in the Indonesian stock market since the crisis of 1998 as it plunged by 12 percent, triggering a 30-minute trading halt.
·United States
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The Indonesia Stock Exchange (IDX) will conduct direct investigations into issuers suspected of price manipulation or stock manipulation.
·Jakarta, Indonesia
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Business Times
Business TimesIndonesia strengthens measures against stock manipulation after market rout triggered by MSCI
Indonesian President Prabowo Subianto told his Cabinet last week that MSCI was trying to "intimidate" Indonesia, but said the country would not be afraid.
·Singapore, Singapore
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The Indonesia Stock Exchange (IDX) is expanding the membership of its High Shareholding Concentration (HSC) stock assessment committee to include academics and investor representatives.
Coverage Details
Total News Sources17
Leaning Left1Leaning Right1Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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