{
    "success": true,
    "data": {
        "id": 1689913,
        "msgid": "msci-announces-latest-decision-following-review-of-indonesias-capital-market-reforms-1776736253",
        "date": "2026-04-21 08:19:39",
        "title": "MSCI Announces Latest Decision Following Review of Indonesia's Capital Market Reforms",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Finance",
        "summary": "MSCI has announced updates to its free float assessment for Indonesian securities in its global indices, effective 20 April 2026, in response to recent capital market transparency reforms by OJK, IDX, and KSEI. These reforms include enhanced disclosure of shareholders holding over 1% and a roadmap to increase minimum free float to 15%, with MSCI maintaining temporary policies such as freezing Foreign Inclusion Factors and excluding high shareholding concentration stocks. This move aims to limit index turnover and investment risks while evaluating the reforms' effectiveness, with further updates expected in June 2026.",
        "content": "<p>MSCI has announced an update regarding the assessment of free float\nfor Indonesian securities in its global indices, effective from 20 April\n2026. This announcement follows the previous release on 27 January 2026,\nwhen it froze the rebalancing of its Indonesia indices.<\/p>\n<p>\u201cMSCI notes the capital market transparency reforms announced by the\nFinancial Services Authority, Indonesia Stock Exchange, and Central\nSecurities Depository Indonesia,\u201d as quoted from the official\nannouncement on its website, Tuesday (21\/4\/2026).<\/p>\n<p>These reforms include increased transparency for shareholders holding\nmore than 1% and more detailed investor classifications.<\/p>\n<p>Additionally, the regulators have introduced a High Shareholding\nConcentration (HSC) framework and a roadmap to raise the minimum free\nfloat to 15%. MSCI is currently evaluating the scope, consistency, and\neffectiveness of these new policies in the context of determining free\nfloat and investment eligibility.<\/p>\n<p>In the May 2026 index review, MSCI has decided to maintain the\ntemporary policy that has been in place for Indonesian securities. This\npolicy includes freezing increases in Foreign Inclusion Factors (FIF)\nand Number of Shares (NOS), and not adding new shares to the MSCI\nInvestable Market Indexes (IMI).<\/p>\n<p>MSCI will also not conduct upgrades between market capitalisation\nsegments, including from small cap to standard. On the other hand,\nshares identified under the HSC framework by Indonesian authorities will\nbe removed from the indices in accordance with MSCI\u2019s global\npolicies.<\/p>\n<p>Furthermore, MSCI may use 1% shareholder disclosure data to adjust\nfree float estimates if necessary. However, other new data will not be\nincorporated into index calculations until the evaluation process is\ncomplete and input from market participants has been considered.<\/p>\n<p>This step is taken to limit index turnover and investability risks\nwhile allowing time for evaluating the newly implemented reforms. MSCI\naffirms that it will continue to coordinate with market participants and\nrelevant authorities in Indonesia.<\/p>\n<p>Looking ahead, MSCI is open to input from market participants\nregarding the effectiveness of the new policies. Further updates are\nexpected to be provided in the Market Accessibility Review scheduled for\nJune 2026.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/msci-announces-latest-decision-following-review-of-indonesias-capital-market-reforms-1776736253",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}