(Oct 20): At a meeting on Sunday afternoon involving officials from Indonesia’s Financial Services Authority and the country’s stock exchange, some attendees were surprised to see several prominent Instagrammers present.

The gathering was to discuss MSCI Inc’s shock threat to relegate the nation to standalone status, a move that would force funds tracking its emerging-market benchmarks to sell Indonesian stocks, triggering potentially billions of dollars in capital outflows.

As well as what could be done to fix the situation, a significant portion of the conversation centred around how influencers like Rivan Kurniawan could help manage the message and provide feedback from retail investors, according to people familiar with the…