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EMERGING MARKETS-Indonesia stocks rise after MSCI extends review; S.Korea shares rebound
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EMERGING MARKETS-Indonesia stocks rise after MSCI extends review; S.Korea shares rebound
Jun 23, 2026 8:19 PM

* Jakarta stocks edge higher, rupiah slips

* S.Korea's KOSPI rebounds after 10% plunge

* Singapore stocks touch record high

* Thai baht at 13-month lows

(.)

June 24 (Reuters) - Indonesia's stocks edged higher on Wednesday after index provider

MSCI ( MSCI ) deferred its review of the country's emerging market status to November, while the

rupiah extended losses, nearing the key 18,000 level.

South Korea's benchmark KOSPI index jumped more than 4% in the first 30 minutes

of trading after a 10% plunge in the previous session, with the earlier decline largely

attributed to profit-taking following a sharp rally in chipmaker stocks.

The rebound in South Korean equities lifted the MSCI Emerging Markets Asia gauge

slightly, though it remained near six-session lows. An index tracking ASEAN

stocks, dominated by Singapore's banks, was little changed.

In Indonesia, the Jakarta Composite Index added 0.5% after a two-day slide, with

investors taking some comfort from MSCI's ( MSCI ) decision to defer its review.

The index provider said reforms introduced so far in Indonesia were a "step in the right

direction", but warned it could consider options including a consultation on a downgrade to

frontier market status if sufficient progress is not made by November.

The rupiah weakened to 17,955 per U.S. dollar, within a striking distance of the

key 18,000-mark and its lifetime low of 18,190 a piece. Yield on Indonesia's 10-year

sovereign bonds edged higher to 7.263%, while that on a one-year bond

jumped to 7.975%.

Elsewhere in Southeast Asia, stocks in Singapore and Malaysia rose around

0.5% each, with those in the city-state notching a record high. The Thai baht

continued its decline, slipping to a 13-month low of 33.425 a dollar.

HIGHLIGHTS:

** Samsung Electronics ( SSNLF ) jump 10%, SK Hynix rise as much as 5.8%

** Singapore Airlines launches $221 million dim sum bond at 2.38% yield

** MSCI ( MSCI ) keeps South Korea at emerging market status, cites FX accessibility

Asia stock indexes and currencies at 0231 GMT

COUNTRY FX FX FX INDEX STOCKS STOCKS

RIC DAILY % YTD % DAILY % YTD %

Japan +0.01 -3.03 0.32 34.19

China +0.04 +2.89 -0.25 3.21

India +0.00 -5.14 0.00 -8.82

Indonesia -0.61 -7.11 0.50 -29.08

Malaysia -0.10 -2.08 0.53 0.52

Philippines -0.60 -4.29 -0.34 0.86

S.Korea -0.14 -6.23 2.86 100.25

Singapore -0.05 -0.86 0.47 12.57

Taiwan -0.16 -0.75 -1.67 59.90

Thailand -0.52 -5.80 - -

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