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20.10.26 - 04:03
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Too Broken For Frontier: Indonesian Markets Suffer Worst Rout Since 1998 As MSCI Threatens The "Argentina Treatment" (ZeroHedge)
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Too Broken For Frontier: Indonesian Markets Suffer Worst Rout Since 1998 As MSCI Threatens The "Argentina Treatment"
Back in January, MSCI fired a warning shot at Jakarta. On Friday it fired the real thing.
Indonesian markets extended their selloff on Monday, with stocks deepening their worst rout in almost 30 years and losses spreading to bonds and the rupiah after MSCI warned the country may face a two-step downgrade: straight from Emerging Market to "Standalone" status, skipping Frontier altogether.
The Jakarta Composite (JCI) closed down 3.6% on Monday after crashing 11.6% on Friday, its biggest one-day drop since January 1998. The combined two-session drop of almost 15% is steeper than any two-day stretch during the 1998 Asian financial crisis, and the index hit a six-year low intraday.
Regular readers will recall that we first flagged this exact risk in January, when Indonesian stocks were halted for 30 minutes after crashing on MSCI "investability" concerns...
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15.10.26 - 13:00
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The hidden costs of fracking: boom in Argentina linked to trail of sickness (The Guardian)
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Families in Vaca Muerta, the centre of Patagonia's shale operation, report cancers, miscarriages and pollutionIn Allen, a small town in Argentine Patagonia, many people living on the same street ended up falling ill. For some, it was severe migraines, nausea or skin irritation. For others, cancers, congenital abnormalities, miscarriages or stillbirth seemed to affect foetuses or children. People say it all started 13 years ago – when a well was drilled near their homes to extract gas and oil.Calle Ciega 10 [Dead-end Street 10] lies on the eastern edge of Vaca Muerta, a vital area for Argentina's economy, home to the world's second-largest reserve of shale gas and fourth-largest reserve of shale oil. The region has more than 2,600 active wells, including one on this small street where about 20 families live, most of them seasonal workers on fruit farms. Continue reading......
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