Jakarta Stocks Suffer Biggest One-Day Fall in Nearly Three Decades on MSCI Downgrade Plan

Jakarta stocks posted their biggest single-day drop in nearly three decades after a Reuters report that MSCI plans to downgrade Indonesia to 'standalone' market status. MSCI's October 15 consultation on reclassification is still open, and no final decision has been made. Shares rebounded from earlier losses after sovereign fund Danantara said it had been buying.