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Too Broken For Frontier: Indonesian Markets Suffer Worst Rout Since 1998 As MSCI Threatens The "Argentina Treatment"
Too Broken For Frontier: Indonesian Markets Suffer Worst Rout Since 1998 As MSCI Threatens The "Argentina Treatment" Back in January, MSCI fired a warning shot at Jakarta. On Friday it fired the real thing. Indonesian markets extended their selloff on Monday, with stocks deepening their worst rout in almost 30 years and losses spreading to bonds and the rupiah after MSCI warned the country may face a two-step downgrade: straight from Emerging Market to "Standalone" status, skipping Frontier altogether. The Jakarta Composite (JCI) closed down 3.6% on Monday after crashing 11.6%