FTSE keeps Indonesia on watch despite reforms

FTSE Russell postponed its March review of Indonesia's secondary emerging market status while monitoring capital market reforms, after MSCI warned of a potential downgrade in January. Indonesia completed key changes by April 3rd including doubling minimum free float to 15% and releasing detailed shareholder data. The Jakarta Composite has lost $120 billion since MSCI's warning, down over 17% year-to-date among Asia's worst performers. FTSE halted additions of new Indonesian stocks whilst maintaining corporate action updates, giving authorities breathing room until June's quarterly review.