Jakarta Composite Index plummets over 11% as concerns over capital outflows mount
Jakarta on Aug. 19. Index provider MSCI might strip Indonesia of emerging market status unless sufficient progress is made in its stock market. © Getty Images
REZHA HADYAN and MITSURU OBE
October 16, 2026 11:25 JST
Updated on October 16, 2026 20:13 JST
JAKARTA/TOKYO -- Indonesian stocks plummeted on Friday after global financial services company MSCI announced that it is considering downgrading the MSCI Indonesia Index from emerging market to standalone market status, a major setback amid recent efforts by Indonesia to maintain its emerging market status.