Indonesian Stocks Dive 11% as MSCI Weighs Market Reclassification
- 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.
23 Articles
23 Articles
Indonesia stocks dive 11pc after MSCI reclassification
Indonesian stocks plunged more than 11 percent on Friday as index compiler MSCI said it was "no longer appropriate" to maintain the country's emerging-market status, fuelling fears of an exodus of foreign investment. The US firm said earlier this year that investors had raised concerns about "ongoing opacity in shareholding structures" as well as co-ordinated trading behaviour that affected price information. Authorities in Jakarta said in April…
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Free Malaysia Today NewsIndonesian stocks dive 11% as MSCI weighs market reclassification
The US firm said earlier this year that investors had raised concerns about "ongoing opacity in shareholding structures" as well as coordinated trading behaviour that affected price information.
Most Asian stocks rise as calm returns after CoreWeave shock; Indonesia ...
The Jakarta Composite Index (JCI) plunged 469.86 points at the opening of trading on Friday, while the LQ45 index also plummeted 8.33 percent.
After yesterday's sharp stock market crash in Asia, the mood has now turned – and the trading week looks set to end on a high note.
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