JAKARTA, Oct 19 — The main stock index in Jakarta closed at its lowest level in six years today, following sharp losses last week, as index compiler MSCI considers stripping Indonesia of its emerging market status.

The South-east Asian nation’s benchmark Jakarta Composite Index (JCI) fell 3.6 per cent to close at 4,996, a level last seen in 2020.

It was the second consecutive day of heavy losses after the JCI plunged more than 11 per cent on Friday in the biggest single-day fall since early 1998.

The index has plummeted more than 40 per cent since the start of the year.