Indonesian stock exchange CEO resigns after $84 billion market wipe out
Indonesian Stock Exchange (IDX) CEO Iman Rachman speaks with members of the media on Friday, January 30, 2026, in Jakarta, Indonesia. Rachman said he would resign following a two-day market rout sparked by MSCI Inc.’s warning of a possible downgrade.
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Indonesian stock exchange CEO Iman Rachman resigned on Friday following the defeat that has seen the country’s stock market lose $84 billion in the past two days due to concerns about a possible downgrade by INdex provider MSCI.
In one versionThe Indonesian Stock Exchange said Rachman resigned, taking responsibility for the “recent market situation” without providing details.
Rachman said at the press conference, “I hope this will be the right decision for the capital market. I hope my resignation will lead to an improvement in our capital market.” According to Reuters.
“I hope the index, which started positively this morning, will continue to improve in the coming days,” he added.
MSCI warned on Tuesday of the possibility of the country being downgraded from emerging market status to “frontier” market status by MSCI, highlighting concerns about trade transparency.
“Investors highlighted that fundamental investability issues persist due to ongoing transparency in shareholding structures and concerns about possible coordinated trading behavior that undermines fair price formation,” MSCI said. in question late Tuesday.
Jakarta Composite rose 1.18% on Friday after losing 7.35% on Wednesday and 1.06% on Thursday.
