MSCI gets set to remove Indonesia from global indexes, sparks market slide to six-year low
MSCI said the move could force passive funds to sell Indonesian holdings as it cited persistent concerns about market governance and investability.
- On Friday, Asian stocks rebounded following Thursday's heavy selling, when investors dumped technology shares amid concerns about cloud company Nvidia-backed CoreWeave's debt pile.
- CoreWeave's shares recovered on Thursday after extending Wednesday's 15.5% slump, as reports of distressed bond yields triggered a broad, AI-centered equity selloff globally.
- Indonesian stocks plunged more than 11% on Friday after index compiler New York-based MSCI announced plans to reclassify the country from 'Emerging Market' status.
- MSCI officials cited "ongoing opacity in shareholding structures" and suspected coordinated trading, warning that reclassification could force investment funds to sell Indonesian holdings.
- Capital markets analyst Kyle Rodda warned that global markets may face "a protracted period of this sort of volatility," with tech company earnings announcements due in the coming weeks.
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US stock markets reversed early losses yesterday. The NASDAQ, which had rebounded about 1.5 percent from its low, ended the day up 0.08 percent, while the S&P 500 rose 0.33 percent.
Jakarta, 16 Oct (EFE).- The Indonesian Stock Exchange, the composite indicator JKSE of Jakarta, collapsed more than 8% at the opening of this Friday's session, dragged by the concern of investors at the possibility that the global supplier of MSCI indices would exclude the country from its stock indexes, [...] The Indonesian Stock Exchange ticket plummets by 8% at the opening, faced with the risk of MSCI's exclusion was first published in HolaNe…
Stocks rebound after tech sell-off and Indonesia shares sink on market downgrade warning – WTOP News
HONG KONG (AP) — Asian shares mostly advanced on Friday, a day after a tech sell-off dragged stocks lower, while Indonesia’s stock market plunged following a downgrade warning. Index provider MSCI warned it would downgrade Indonesia from its “emerging market” status, triggering growing concerns of a capital flight. U.S. futures edged higher after Federal Reserve...
The Toronto Star
Stocks rebound after tech sell-off and Indonesia shares sink on market downgrade warning
HONG KONG (AP) — Asian shares mostly advanced on Friday, a day after a tech sell-off dragged stocks lower, while Indonesia’s stock market plunged following a downgrade warning.
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