Jardine Matheson stock price slides 4% as MSCI’s Indonesia warning dents sentiment
Jardine Matheson shares fell 4.4% to $72.91 in Singapore Wednesday afternoon, tracking a sharp selloff in Indonesian stocks after MSCI raised concerns over ownership and free float. Jakarta’s main index dropped nearly 7%, triggering a trading halt. Jardine has major exposure to Indonesia through its stake in Astra. The company continued share buybacks and reported insider purchases this week.