Indonesia to Probe Stock Price Manipulation After Market Rout
Employees at the Indonesia Stock Exchange in Jakarta.
Photographer: Muhammad Fadli/BloombergIndonesia said it will crack down on stock manipulators and accelerate financial reforms as authorities step up efforts to restore confidence in its asset markets.
Investigations will be launched into “pump and dump stock allegations,” Friderica Widyasari Dewi, the acting chair of the Financial Services Authority, said at a televised press conference late Saturday. Dewi was appointed earlier in the day following the resignation of several senior market chiefs after a rout in equities triggered by MSCI Inc.’s reform demands.