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CNA (Channel NewsAsia) is a Singapore-based English-language news channel. It provides global news, expert analysis, and documentaries with an Asian perspective, supported by a network of correspondents in major cities across Asia, North America, and Europe.

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Prabowo accuses MSCI of trying to intimidate Indonesia after market downgrade warning

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Global index provider MSCI was trying to "intimidate" Indonesia but the country would not be afraid, President Prabowo Subianto told his Cabinet on Wednesday (Oct 21). MSCI had announced it could demote Indonesia's equities to "standalone" market status after it claimed the country had not adequately tackled coordinated trading practices in its stock market.

"We have strength. We have courage. We are willing to make sacrifices. And we do not know the meaning of surrender," he said. "If necessary, we will implement extensive austerity measures." #indonesianews #indonesia

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