Jakarta (ANTARA) \u2013 The Indonesia Stock Exchange (IDX) said it would\nseek further clarification from MSCI on the considerations and\nassessment behind its decision to open a consultation on a proposed\nchange to Indonesia\u2019s stock market classification from Emerging Market\nto Standalone Market.<\/p>\n
IDX President Director Jeffrey Hendrik said the move took into\naccount the progress made and reforms implemented in Indonesia\u2019s capital\nmarket to date.<\/p>\n
\u201cThe IDX respects MSCI\u2019s independence in conducting its assessments\nand determining market classifications according to its own\nmethodology,\u201d Jeffrey told reporters in Jakarta on Friday.<\/p>\n
Jeffrey said the IDX and the Financial Services Authority (OJK) had\ntaken concrete steps to improve the transparency, integrity and quality\nof Indonesia\u2019s capital market.<\/p>\n
He said the improvements had received appreciation and positive\nresponses from global investors and international index providers.<\/p>\n
\u201cThis reflects the continuing commitment of the authorities and all\nstakeholders to strengthening the credibility and competitiveness of\nIndonesia\u2019s capital market,\u201d Jeffrey said.<\/p>\n
Jeffrey also stressed that MSCI\u2019s announcement concerned a\nconsultation process, with submissions accepted until 30 April 2027, and\nwas not a final decision.<\/p>\n
The IDX would continue to coordinate closely with the OJK and\nrelevant stakeholders to ensure that securities trading in Indonesia\u2019s\ncapital market remained orderly, fair and efficient, while maintaining\nthe confidence of domestic and global investors, he said.<\/p>\n
On Friday morning (16 October), Indonesia time, MSCI announced that\nit had opened a consultation on a proposed change to Indonesia\u2019s market\nclassification from Emerging Market to Standalone Market.<\/p>\n
MSCI is due to announce its final decision by the end of June 2027\nand may provide interim updates on market participants\u2019 feedback during\nthe consultation period.<\/p>\n
MSCI said market participants\u2019 concerns had risen significantly over\nthe investability of Indonesia\u2019s equity market, including continued\nopacity in share-ownership structures and alleged coordinated\ntrading.<\/p>\n
MSCI welcomed feedback from market participants on the proposed\nreclassification of the MSCI Indonesia Index until 30 April 2027. It\nwill announce its decision on or before 30 June 2027.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/idx-seeks-clarification-from-msci-over-potential-change-to-indonesias-market-status-1792115521", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }