MSCI considers two-step downgrade for Indonesia

MSCI classifications consist of Developed, Emerging, Frontier, and Standalone markets...
There are four stages in total, with Developed markets being the highest and Standalone markets being...
the lowest stage...
MSCI is reportedly reviewing a downgrade for the Indonesian stock market from Emerging to two levels lower...
to the lowest stage, Standalone markets, citing stock manipulation and opaque governance...
The Indonesian market has been declining day after day....
It even dropped 11.6% in a single day...
85 trillion [won] evaporated in one day, and it fell another 5% the following day...
The stock market has fallen 40.9% since the beginning of the year...
Standalone markets include Argentina, Jamaica, Lebanon, Panama, and Zimbabwe...
For reference, South Korea is an MSCI Emerging market...