Jakarta's benchmark index rose 3% after hitting a six-year low in the previous session, following a 14.8% drop over Friday and Monday. A record US$82 billion two-day rout followed index provider MSCI's warning that it may move Indonesia from emerging markets to standalone status. To curb the selloff, the stock exchange halved the daily down limit to 7% from 15% and set a Rp 1 down limit on shares priced at Rp 14 or less. The rupiah strengthened slightly to 18,010 per US dollar but remained near the record low of 18,190 hit in June. Fitch's George Xu said the announcement had no material immediate credit implications, though external pressure could raise government borrowing costs.
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