Aksjetrøbbel for Indonesia: Kan havne på kriseliste

Indonesian stocks have already plummeted significantly this year, with Friday marking further turmoil in the nation's stock market. The MSCI, a provider of many widely-used stock indices worldwide, warns that it is considering demoting the Indonesian market from "emerging markets" - a category that includes countries such as China, India, South Korea, Brazil, Turkey, and Saudi Arabia - to "stand-alone markets".

The latter classification could result in Indonesia being removed from MSCI's key indices. This could lead to a significant outflow of money from Indonesian stocks. MSCI indices are closely monitored by investors in emerging markets and serve as the basis for many index funds to allocate their investments. The countries classified as stand-alone markets include Argentina, Ukraine, Zimbabwe, Bulgaria, and Panama.

MSCI has categorized countries and stock markets into three main groups, in addition to stand-alone markets, which are rated lower. This year, Indonesian stocks have faced a tough situation, and the stock market in the country has fallen more than 40% so far. In comparison, MSCI's emerging markets index has risen around 15% so far in 2026.

According to MSCI, market actors have indicated concerns about the investment attractiveness of the Indonesian stock market, citing a lack of transparency and suspicions of coordinated trade activity. This is reported in a press release from the index provider. Authorities have warned of several measures, but market actors indicate, according to MSCI, that they have not been sufficient.

Earlier in the year, MSCI had indicated that a demotion to so-called "frontier" markets was possible. Now, they believe that a downgrade to frontier markets may be necessary. "Feedback from market actors suggests that a reclassification to frontier markets would not adequately acknowledge the depth of the market problems." MSCI expects to make a final decision by June 2027. In the meantime, a frenzy of index fluctuations related to Indonesian stocks continues.