Indonesia stocks rebound as questions persist over market fix
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Indonesian stocks rose 4.3% after authorities moved to address concerns from MSCI Inc.
- ✓The exchange said it will remove companies with concentrated ownership from the benchmark index calculation.
- ✓Despite this, Indonesia remains the world’s worst-performing market, as many investors worry if these changes go far enough.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Moneycontrol.com
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Indonesian stocks rebounded after authorities moved to stave off a potential two-step downgrade by MSCI Inc., though questions remain over whether the measures go far enough to address the index provider’s concerns.
The Jakarta Composite Index rose as much as 4.3%, clawing back some of a roughly 15% two-day plunge that was its steepest since 1989. Even after the rebound, Indonesia remains the world’s worst-performing stock market.
The Indonesia Stock Exchange said it will remove companies with highly concentrated ownership from the calculation of the benchmark index, following a meeting between exchange officials and MSCI representatives on Monday. It didn’t say which stocks would be affected,
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