Indonesia's stock market rebounded after authorities unveiled measures aimed at averting a potential two-notch downgrade by MSCI. The Jakarta Composite Index rose as much as 2.7%, recouping part of an about 15% decline over the prior two sessions — the steepest sell-off since 1989 and leaving Indonesia the world's worst-performing market. The Indonesia Stock Exchange said after a Monday meeting with MSCI representatives it will exclude companies with highly concentrated ownership from its benchm

Indonesia's stock market rebounded after authorities unveiled measures aimed at averting a potential two-notch downgrade by MSCI. The Jakarta Composite Index rose as much as 2.7%, recouping part of an about 15% decline over the prior two sessions — the steepest sell-off since 1989 and leaving Indonesia the world's worst-performing market. The Indonesia Stock Exchange said after a Monday meeting with MSCI representatives it will exclude companies with highly concentrated ownership from its benchmark sample and expand ownership disclosure, requiring clarity on whether investors holding 1% or more are related parties. MSCI has said it is considering downgrading Indonesia from an emerging to a standalone market — a step more severe than January's warning to possibly reclassify it as a frontier market — citing opaque ownership structures, suspected coordinated trading and insufficient progress on this year's regulatory reforms.