IDX Says FTSE Keeps Indonesia in ‘Secondary Emerging Market’ Category

Jakarta (ANTARA) – The Indonesia Stock Exchange (IDX) said it met global stock index provider FTSE Russell on Friday (23 October). FTSE was reported to have decided to keep Indonesia’s capital market in the Secondary Emerging Market classification and not place it on a watchlist.

“FTSE expressed its appreciation for what has been done in Indonesia’s capital market, and confirmed that its report dated 6 October 2026 clearly states that Indonesia remains a Secondary Emerging Market,” IDX President Director Jeffrey Hendrik said at a press conference in the IDX Main Hall in Jakarta on Monday.

At the meeting, Jeffrey outlined developments in Indonesia’s capital market reforms, covering three areas: transparency, liquidity and surveillance.

He said FTSE’s decision to keep Indonesia in the Secondary Emerging Market category without placing it on a watchlist confirmed the reforms that had been undertaken.

“Indonesia has not been placed on the watchlist, and that is certainly a very strong confirmation from FTSE, as well as recognition of the reforms we have carried out,” Jeffrey said.

OJK Board of Commissioners Chair Friderica Widyasari Dewi previously said the regulator’s current focus was to ensure that Indonesia’s capital market reforms produced tangible, measurable results in improving market quality and investor confidence.

“Investor confidence must be built through concrete action, not merely statements. The OJK is committed to building an Indonesian capital market that is fair, transparent, competitive and globally credible,” Friderica said.

Friderica said the fundamentals of Indonesia’s capital market remained strong, with market capitalisation of about US$589 billion, the second-largest in ASEAN, and 31.1 million investors.

Listed companies also recorded positive performance, with revenue growth of 15.9 per cent and net profit growth of 16.3 per cent in the 12 months to June 2026.