GoTo shares rally after entry into MSCI Index. Knee-jerk reaction or sustainable recovery?

Shares of Indonesia-listed tech giant GoTo rose almost 35% on Wednesday when it was included in the MSCI Global Standard Index as part of rejig of the equity index.

GoTo’s shares closed at 147 rupiah apiece on Wednesday, up almost 35% compared to the previous day’s close of 109 rupiah apiece, show data from the Indonesia Stock Exchange (IDX).

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