Indonesia is fighting to save its financial reputation after a disastrous two days saw stock prices plunge by 8 per cent. Authorities are racing to pass new rules to prevent a downgrade that has already scared investors into pulling billions of dollars out of the local market.
The rout, which knocked off about US$80 billion in overall market value, came after index provider MSCI flagged concerns about ownership and trading transparency in Indonesian stocks, the latest setback for a market that…
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