Indonesia Identifies 300 More Stocks for Exclusion From Benchmark Calculations

Jakarta, 11 November 2026 – The Indonesia Stock Exchange has identified 300 more closely held stocks for its high shareholding concentration list, making them ineligible for inclusion in benchmark calculations under its revised rules. The exchange said the new group represented 6.16% of the Jakarta Composite Index’s market capitalisation. The additions would bring the list to 383 names, up from 83. The exchange did not give a removal date for the new group in the announcement reviewed.

For Asian fund managers, the change is about how much of the market a benchmark can represent in practice. A large listed company can have relatively few shares available for public trading if a small group controls most of the stock. Exclusion from an index is not the same as delisting, however. The immediate question for portfolios is when the exchange will publish the names and implement the changes.