TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsIDX Composite index nosedives at open
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
A trader monitors the Indonesia Stock Exchange (IDX) Composite index in South Tangerang, Banten, on April 8, 2025. (AFP/Bay Ismoyo)
T
he Indonesia Stock Exchange (IDX) Composite index nosedived as trading opened on Wednesday following an evaluation by Morgan Stanley Capital International (MSCI) that flags Indonesian stocks.
The index plunged by 6.53 percent from Tuesday’s closing value of 8,980 points to 8,393 points at Wednesday’s opening.
Stocks of two companies with the largest market capitalization, PT Barito Renewable Energy and Bank Central Asia, were down by 17.46 and 6 percent, respectively.
The MSCI temporarily froze several Indonesian stock indices with immediate effect on Tuesday due to its consideration that the transparency level of Indonesian stock ownership was inadequate.
“While there have been minor enhancements to IDX’s float data feed, investors highlighted that fundamental investability issues persist due to ongoing opacity in shareholding structures and concerns about possible coordinated trading behavior that undermines proper price formation,” reads the announcement from MSCI.
“To address some of these concerns, more granular and reliable information on shareholding structures, possibly including high shareholding concentration monitoring, is required to support a robust assessment of free float and investability across Indonesian securities,” it added.
The announcement added that some global participants used PT Kustodian Sentral Efek Indonesia’s (KSEI) Monthly Holding Composition Report as additional reference data, but many investors have expressed “significant concerns” about relying on KSEI's shareholder categorization.
