Indonesia's president accuses MSCI of trying to intimidate the country

MSCI proposed on Oct 15 to downgrade Indonesia from an emerging market to a standalone market in 2027, citing share-ownership transparency, suspicious trading and weak oversight.

Lost in two days

82 US$ billion

Indonesian stocks lost about US$82 billion in value in their deepest two-day sell-off on record.

“Indonesia is not afraid of anyone and will not flinch.”

— President Prabowo Subianto

MSCI said its decisions follow transparent, rules-based methodologies and that it will keep engaging with market participants and authorities.