Indonesian shares lost about 11% on Friday. This was the largest single-day fall in 28 years, as the country's stock market status came under scrutiny from one of the world's largest stock market index providers, threatening outflows from global investment funds.
MSCI said that following investors' concerns, Indonesia's continued emerging-market status was "no longer appropriate". The index provider is launching a consultation on a proposal to classify Indonesia as a "Standalone Market", which would leave the country outside MSCI’s main global market groupings.
