Indonesia's stocks plunge 11% after MSCI proposal to downgrade the country's market status
The Indonesian stock market fell about 11% — the largest daily drop in 28 years — after MSCI proposed reclassifying the country from emerging markets to the 'Standalone Market' category. A consultation has been launched; the final decision will be announced by the end of June 2027. According to Bloomberg, global funds have already withdrawn $4.9 billion from Indonesian equities since the start of the year, the index has fallen 39%, and the rupiah 8%.
Nilufar Karimova