๐ฅ $80B Wiped Out: Indonesia Market CRASH Forces IDX CEO Exit! ๐ฅ
In just 48 hours, Indonesiaโs stock market blew up, losing around $80 billion โ shocking investors and sending confidence in the financial system into panic mode.
The carnage started after MSCI raised red flags about the marketโs low transparency, unclear share ownership, and restricted trading freedom. They warned Indonesia could be downgraded from an emerging market to a frontier market โ a move that could trigger massive foreign sell-offs.
Chaos followed: investors rushed to dump shares, the main index plunged 8%, and trading was halted to stop panic from spiraling.
The IDX boss, Iman Rachman, resigned, taking responsibility in a bid to calm nerves and restore trust.
The government and regulators reacted aggressively, promising tighter rules, increased transparency, and new measures to lure both local and foreign investors. Planned moves include boosting tradable shares and letting pension and insurance funds flood the market.
โ ๏ธ Experts warn: small recoveries wonโt cut it โ investor trust hinges on how fast and seriously reforms are executed. The market is still fragile, and the next days could be wild.
๐ฅ $80B gone. CEO out. Reforms incoming. Watch this space. ๐ฅ
Very Critical Situation.๐ฅ