MSCI yet to downgrade Indonesia from emerging market status to frontier market, but kicking out six securities from the Global Standard Index and 13 stocks from the Global Small Cap Index feels like a downgrade. 

MSCI has announced the list of securities added and deleted from its Global Standard Index and Global Small Cap Index. Indonesia, Malaysia, Taiwan, and Japan are the biggest losers in the review. 

Rupiah depreciated 6% in the past twelve months, but Kerney’s foreign direct investment (FDI) confidence index for Indonesia dropped to 13, way below Thailand (6) and Malaysia (7), which improved significantly.

The Walt Disney Company reportedly began exploring a superapp integrating Disney+, theme parks, cruises, ticketing and merchandise into a single ecosystem, many saw it as another corporate technology experiment. In reality, the move signals something much bigger: the arrival of a new phase of platform capitalism where entertainment companies seek to dominate not only audiences’ attention, but entire consumer lifestyles.

Rupiah is moving closer to its new psychological level of Rp18,000 per US dollar. The currency was traded at Rp17,452 this morning, under pressure from tensions in the Middle East and persistent questions on fiscal sustainability. 

The Red-and-White Village Cooperative (KDMP) is the second largest program from Prabowo administration after the free-nutritious-meal (MBG) program. Among the biggest spendings for KDMP is the purchase of 6-wheel trucks. Two India-based automotive players, Tata and Mahindra, are main gainers of the program. They, accordingly, took the headlines.