Iran says Hormuz offer stands as ship attacks continue and Lavrov visits Tehran France orders local curfews after riots as unrest hits Italy Houthi missiles kill dozens at Yemeni government camp as attacks on Saudi Arabia continue Putin floats Trump-Xi summit on Ukraine as Trump-Zelensky rift deepens Russian missiles hit Kyiv and power grid, drone kills six in Kharkiv region Drone strikes kill dozens across Sudan after attack on al-Dibab transport hub Congo Ebola deaths pass 4,500 as Kenya's cluster grows WFP cuts food aid to 500,000 Gazans as Israel signals reopening of commercial route Oil near $110 as Russia waiver meets Gulf supply fears Mali's military and Russian allies killed scores of civilians in drone strikes, reports say China widens export controls to tunnel-boring machines and drones, with AI and solar curbs drafted Chip stocks rebound after AI-debt rout, but financing worries persist Floods kill at least four in eastern Spain as rescuers lift residents from rooftops French bonds and stocks fall as weekend riots deepen budget worries Canada mourns four soldiers killed in Wainwright base fire, cause still unknown Alberta votes on staying in Canada, separatists expected to lose Indonesia drops tightly held stocks from index to head off MSCI downgrade Lithuania calls Starlink fire sabotage as Baltic tensions rise Israel arrests suspects over settler attacks on European diplomats and US photojournalist Trump endorses Netanyahu ahead of Israeli election Anthropic pledges 5% of shares to public benefit fund before IPO Lula and Flávio Bolsonaro trade attacks in first run-off debate as polls show lead narrowing Protests continue in Albania as Rama says masked demonstrators are not students Kenyan court convicts starvation cult leader Paul Mackenzie of murder US threatens EU over satellite spectrum as European carriers weigh joint bid European Commission rejects US proposal to resume Russian gas purchases Australian MP Helen Haines critically injured after car attack outside office China's economy grows 4.5% in third quarter as AI-driven exports beat forecasts US orders DeepSeek removed from federal civilian IT systems Florida issues arrest warrant for Raúl Castro as Cuba rejects charge Twelve migrants die in two boat accidents in the Aegean Saudi Arabia postpones 'Davos in the Desert' forum after Houthi attacks Lebanon heads into US-backed talks with Israel under pressure over Hezbollah funding Philippines summons Chinese envoy over 'easily win' remark as Beijing denies threat Salvadoran soldiers missing after gang ambush on UN-backed force in Haiti Indonesia battles worst forest fires and toxic haze in 11 years Prosecutors cite Saudi backing for ex-OpenAI engineer accused of planting device Indian court extends custody of 'Cockroach' movement leaders China protests Takaichi's Yasukuni offering as large Japan-US drills begin Ukraine and Russia work on Oleshky evacuation as Pope Leo speaks with Zelensky Japan set to launch first mission to bring back samples from a Martian moon Iran says Hormuz offer stands as ship attacks continue and Lavrov visits Tehran France orders local curfews after riots as unrest hits Italy Houthi missiles kill dozens at Yemeni government camp as attacks on Saudi Arabia continue Putin floats Trump-Xi summit on Ukraine as Trump-Zelensky rift deepens Russian missiles hit Kyiv and power grid, drone kills six in Kharkiv region Drone strikes kill dozens across Sudan after attack on al-Dibab transport hub Congo Ebola deaths pass 4,500 as Kenya's cluster grows WFP cuts food aid to 500,000 Gazans as Israel signals reopening of commercial route Oil near $110 as Russia waiver meets Gulf supply fears Mali's military and Russian allies killed scores of civilians in drone strikes, reports say China widens export controls to tunnel-boring machines and drones, with AI and solar curbs drafted Chip stocks rebound after AI-debt rout, but financing worries persist Floods kill at least four in eastern Spain as rescuers lift residents from rooftops French bonds and stocks fall as weekend riots deepen budget worries Canada mourns four soldiers killed in Wainwright base fire, cause still unknown Alberta votes on staying in Canada, separatists expected to lose Indonesia drops tightly held stocks from index to head off MSCI downgrade Lithuania calls Starlink fire sabotage as Baltic tensions rise Israel arrests suspects over settler attacks on European diplomats and US photojournalist Trump endorses Netanyahu ahead of Israeli election Anthropic pledges 5% of shares to public benefit fund before IPO Lula and Flávio Bolsonaro trade attacks in first run-off debate as polls show lead narrowing Protests continue in Albania as Rama says masked demonstrators are not students Kenyan court convicts starvation cult leader Paul Mackenzie of murder US threatens EU over satellite spectrum as European carriers weigh joint bid European Commission rejects US proposal to resume Russian gas purchases Australian MP Helen Haines critically injured after car attack outside office China's economy grows 4.5% in third quarter as AI-driven exports beat forecasts US orders DeepSeek removed from federal civilian IT systems Florida issues arrest warrant for Raúl Castro as Cuba rejects charge Twelve migrants die in two boat accidents in the Aegean Saudi Arabia postpones 'Davos in the Desert' forum after Houthi attacks Lebanon heads into US-backed talks with Israel under pressure over Hezbollah funding Philippines summons Chinese envoy over 'easily win' remark as Beijing denies threat Salvadoran soldiers missing after gang ambush on UN-backed force in Haiti Indonesia battles worst forest fires and toxic haze in 11 years Prosecutors cite Saudi backing for ex-OpenAI engineer accused of planting device Indian court extends custody of 'Cockroach' movement leaders China protests Takaichi's Yasukuni offering as large Japan-US drills begin Ukraine and Russia work on Oleshky evacuation as Pope Leo speaks with Zelensky Japan set to launch first mission to bring back samples from a Martian moon

Symbolic image: Indonesia drops tightly held stocks from index to head off MSCI downgrade

Symbolic image

Indonesia drops tightly held stocks from index to head off MSCI downgrade

6 sources

Indonesia's stock exchange will drop 80 tightly held stocks from its benchmark index to head off an MSCI downgrade. Shares kept falling on Monday.

The Jakarta Composite Index fell for a second straight session on Monday, 19 October, to its lowest level in six years, after MSCI said on Friday, 16 October, that it was weighing a move to standalone market status. Handelsblatt reports losses of more than 11% on Friday and a further 4% on Monday, the steepest slide since the 1990s Asian crisis. Exchange chief Jeffrey Hendrik said the exchange had received no prior warning. After an online conference with MSCI on Monday afternoon, the exchange decided to remove all stocks with high shareholding concentration from the index, according to Nikkei Asia.

Index change and trading curbs

The excluded stocks account for 18% of the index weighting, Nikkei Asia reports. The exchange also lowered the lower auto-rejection limit for certain stocks, and regulators are stepping up enforcement.

What is at stake

Handelsblatt says MSCI has long criticised weak transparency and suspected price manipulation, and the government planned to present transparency measures. Reuters puts the potential fallout at $65 billion, while the New York Times links investor unease to President Prabowo Subianto's policies.