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المشهد العربي
Indonesian stocks hit six-year low
The Indonesian stocks continued their sharp decline, reaching their lowest levels in six years, amid investor fears that the country might be reclassified by MSCI as an emerging or frontier market next year. The Jakarta Stock Exchange index fell by nearly 5% at the beginning of the week, following a previous drop of 11.6%, while the exchange's management decided to cut the maximum allowable decline in stocks to 7% to calm panic selling. This downturn also affected the local currency, the rupiah, which approached a record low of 18,040 per dollar, with the yield on 10-year government bonds rising to 7.4%.
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