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Indonesia’s Top Stocks Face Outsized Selling, Says Allspring

Bloomberg Markets Wednesday 21 October 2026, 04:15 UTC By Abhishek Vishnoi 1 min read
Key Points

Indonesia’s Top Stocks Face Outsized Selling, Says Allspring Indonesian banks and telecommunication stocks may face further losses, as the nation’s best-run companies struggle to stay immune from any broad selloff on the risk of a downgrade by MSCI Inc., according to Allspring Global Investments. The two sectors account for around 80% of the MSCI Indonesia Index, which has plunged over 40% since January when the index compiler first warned of downgrading the Southeast Asian market. Shares of...

Indonesia’s Top Stocks Face Outsized Selling, Says Allspring Indonesian banks and telecommunication stocks may face further losses, as the nation’s best-run companies struggle to stay immune from any broad selloff on the risk of a downgrade by MSCI Inc., according to Allspring Global Investments. The two sectors account for around 80% of the MSCI Indonesia Index, which has plunged over 40% since January when the index compiler first warned of downgrading the Southeast Asian market. Shares of PT Telkom Indonesia Persero have nearly halved in this period, while major lenders including PT Bank Central Asia and PT Bank Rakyat Indonesia Persero have each lost at least 23%.
Indonesia (LOCATION) Allspring (PERSON) Allspring Indonesian (ORG) MSCI Inc. (ORG) Allspring Global Investments (ORG) Southeast Asian (ORG) PT Telkom (ORG) Persero (LOCATION) PT Bank Central Asia (ORG) PT Bank Rakyat (ORG)
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