EtherHunt || Djournal 📊

Indonesia’s stock market is on the edge of a catastrophic feedback loop. MSCI warned that Indonesian stocks may no longer qualify for its global indexes. Suspicious trading. Possible manipulation. Poor transparency. The market responded with its biggest single-day crash since 1998. Down 11.5%. But the initial crash is not the problem. The market is already down 30% this year. Foreign investors have pulled nearly $5 billion. The rupiah has weakened past 18,000 per dollar. Now MSCI is considering removing Indonesia from both emerging and frontier market indexes entirely. If that happens, every major global fund tracking those indexes is forced to sell Indonesian stocks automatically. Forced selling into a market already down 30%. With foreign capital already fleeing. With a currency already under pressure. This is not a contained emerging market story. This is what a currency and market crisis looks like in the early stages. And the worst of the forced selling hasn’t even begun.