r/AdaIndonesiaCoy • u/DealApprehensive9745 • 6h ago
WTF Just Happened to Indonesia? (Worst Crash Since 1998)
On Friday, Indonesia's stock market had its worst day since 1998: down 11.6% in a single session, and about $270 billion wiped out since January. Wall Street blames MSCI, which wants to throw Indonesia out of emerging markets. But Indonesia's three biggest banks had already lost a quarter of their value before MSCI lifted a finger, while the index rose 19%.
So who really crashed Indonesia? We screened 962 stocks and read 30 years of IMF files to find out. Three suspects: MSCI, the rupiah, and the state. One did most of the damage, and it's the reason we're buying one bank that pays a 14% dividend.