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 said MSCI plans to downgrade Indonesia to 'standalone' market status, which would remove it from its emerging-market index group. MSCI's October 15 consultation remains open, with no final decision. Shares recovered from earlier losses after sovereign fund Danantara said it had been buying.