Indonesia to remove 80 concentrated-ownership stocks, ~18% of IHSG, from benchmark index to avert MSCI downgrade

Indonesia will remove 80 stocks with concentrated ownership (HSC), about 18% of the IHSG composite, from its benchmark index, the latest effort to avert a possible downgrade of its market status by MSCI. BEI CEO Jeffrey Hendrik said the step was taken after a meeting with MSCI. The move follows MSCI's threat to reclassify Indonesia as a standalone market, which has triggered a sharp selloff in Indonesian stocks and bonds.

Detected & updated continuously · Source: Nebula