UPDATE 5-Indonesia financial regulator chief resigns after $80 billion market rout, statement says

Earlier in the day, the chief of the IDX stock exchange also resigned after the market rout ⁠that ‌began on ⁠Wednesday after a warning from index provider MSCI of a ‍possible downgrade because of issues of transparency at the ​exchange. The statement said Mahendra Siregar, the chief of ⁠the Financial Services Regulator - also known as OJK - resigned along with ⁠other officials, including the chief executive of capital markets as a "moral responsibility" to support ⁠the necessary recovery steps.

The ‌chief of Indonesia's financial regulator and other officials of the body resigned ⁠on Friday in order to take "responsibility" for a massive market selloff this week, a statement from the ​financial regulator said, a day after an $80 billion ‍market sell-off. Earlier in the day, the chief of the IDX stock exchange also resigned after the market rout ⁠that ‌began on ⁠Wednesday after a warning from index provider MSCI of a ‍possible downgrade because of issues of transparency at the ​exchange.

The statement said Mahendra Siregar, the chief of ⁠the Financial Services Regulator - also known as OJK - resigned along with ⁠other officials, including the chief executive of capital markets as a "moral responsibility" to support ⁠the necessary recovery steps. The OJK said that the resignations would ⁠not ‌affect the implementation of the regulator's duties.