There are some insane accusations floating around Indonesia...
According to Indonesia's former trade minister, Temasek and GIC (Singapore's two state funds) have been "working behind the scenes" to get MSCI to downgrade Jakarta.
These are massive allegations.
Temasek replied affirming that these claims have "no basis", are "patently untrue" and "no one from Temasek has ever reached out to MSCI in order to influence any decisions."
GIC dismissed it too.
And remember when Indonesia said that they might not renew gas contracts? How neighbouring states shouldn't "come begging"?
Well yesterday Singapore asked 10 locally registered firms for information as it widens its probe into the Indonesian fires sending haze over SEA.
So basically, Jakarta went from "our market is full of shells" to "Singapore did this" in LESS THAN A WEEK!
I think we can agree that blaming a neighbour is what you do when you know you've fucked up.
Indonesia has truly failed its people.
Indonesian President Prabowo Subianto has a message for global index provider MSCI: Indonesia "is not afraid of anyone."
His comments came days after MSCI said it was considering moving the country down from emerging-market to standalone status, sending its stocks tumbling. Full story: https://t.co/Gygsq1VkQq
📷: Dimas Ardian/Bloomberg
Parlemen Malaysia pakai bahasa Jawa, berharap si RAJA OMON-OMON PRABOWO paham. Hanya sakit yang tak kunjung sembuh yg buat si RAJA OMON-OMON PRABOWO sadar kesalahannya.
Rumah angker itu gapapa. Bahaya itu rumah bekas "ngelmu" seseorang, bekas sekte, atau apapun yang berkaitan. Mau dibersihin kek gimana pun namanya terkutuk ya terkutuk. Mending gausah, cari aman.
🚨 MASSIVE CRASH: 🇮🇩 Rp 2.14 QUADRILLION ($90 BILLION) wiped off Indonesia’s stock market as stocks plunge 20% in just 3 trading sessions.
It's collapsing...
🚨 Indonesia’s stock market crashes over -11% recording its biggest crash since 1998.
MSCI is considering downgrading Indonesia from an "emerging" market to a "standalone" market.
A standalone downgrade could force global funds to sell Indonesian stocks, triggering billions of dollars in outflows.
The move comes amid concerns over market transparency concentrated ownership and trading integrity.
The announcement triggered a massive sell-off and forced a temporary trading halt.
The Indonesian rupiah falls to 18,070 per dollar, nearing its record low of 18,190.