MSCI keeps South Korea as emerging market, delays Indonesia review amid downgrade risk

SEOUL, SOUTH KOREA - 09 DECEMBER: People walk past the Korea Exchange (KRX) building, as stock markets in Asia as a whole have been affected by the intensifying political turmoil over president Yoon Suk Yeol's role in martial law, in Seoul, South Korea, on 9 December, 2024. The Korea Composite Stock Price Index (KOSPI), Hong Kong's Heng Sang, the Shanghai Composite index, as well as stocks in countries such as Australia, China, India and Thailand have seen a decline in their respective index amid the political crisis in South Korea and Syria. (Photo by Daniel Ceng/Anadolu via Getty Images) Anadolu | Anadolu | Getty Images Index provider MSCI kept South Korea classified as an "emerging market" in its most recent market accessibility review on Tuesday, while extending its review ‌of Indonesia's status until November. The review disappointed hopes that Seoul could be included in MSCI's Developed Markets watchlist, a crucial step before a market can be upgraded to developed-market status. For Indonesia, the extended review comes after MSCI raised concerns about market accessibility earlier this year and froze the country's stocks from its indexes in January, citing investability concerns. …