Key facts
- MSCI is preparing to cut Indonesia from its emerging market indexes.
- CoreWeave shares recovered some composure after earlier declines.
- Analysts noted increased volatility in global markets.
- Federal Reserve Chair Kevin Warsh is scheduled to speak at the IMF-World Bank Annual Meetings.
Asian stocks rebounded on Friday, with the Nikkei, KOSPI, Hang Seng, and Chinese blue chips all posting gains, following a volatile previous session. Investors had dumped tech shares amid concerns about the debt of AI-focused cloud company CoreWeave. Bond markets stabilized, and the dollar weakened as US yields fell. However, Indonesia's equity benchmark slumped 11% after MSCI announced it was preparing to remove the country from its emerging market indexes, a move expected to trigger significant capital flight. The rupiah also weakened against the dollar. US stock futures were lower, and gold and crude oil prices drifted down.