Indonesian stocks tumbled as much as 16 per cent in two days as a sell-off triggered by index provider MSCI’s warning about the market’s investability accelerated.
The Jakarta Composite index fell as much as 10 per cent on Thursday despite a 30-minute trading halt, after a similar interruption a day earlier when the market fell more than 7 per cent.
The slide came after MSCI said it had found “fundamental investability issues” in the Indonesia Stock Exchange’s data feed of publicly traded shares, in a report released on Tuesday.
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