While acknowledging transparency reforms, the global index provider still flags concerns about consistency in policy implementation and impact.

Indonesia's market is now one of the world’s worst-performing, with the Jakarta Composite Index falling over 28% in 2026 thus far.

MSCI has warned of possible downgrade over opaque ownership data and low free float

By Fabiana Negrin Ochoa and Ying Xian Wong

By Ying Xian Wong and Fabiana Negrin Ochoa