[Indonesian stock market rebounds, sovereign wealth fund steps in to support the market] On October 22, Indonesia’s stock market rebounded from its earlier decline, and the country’s sovereign wealth fund said it had entered the market to buy local stocks. The benchmark Jakarta Composite Index rose as much as 1.8% during the session, after falling as much as 2.7%. The gains extended a two-day winning streak and bucked weakness in most Asian markets. Previously, MSCI warned that Indonesia may lose its emerging market status. Last Friday, the Indonesian stock market suffered the most violent sell-off in the past three decades. This rise is a recovery trend after the sharp decline. The stock index reversed early losses after sovereign wealth fund Danantara announced it was entering the market to maintain stability. MNC Securities analyst Herditya Wicaksana said that valuation levels, especially those of large bank stocks, are becoming more attractive, but there is still a risk of continued selling due to uncertainty related to MSCI, which is the dilemma investors are currently facing.