Indonesia’s stock market will retain its status as a secondary emerging market under FTSE Russell, with the country’s Financial Services Authority calling the decision a positive signal for the domestic market.
“Confirmation that we remain in the secondary emerging market group, unchanged alongside other countries, is certainly positive,” Chief Executive Hasan Fawzi said.
Fawzi said the decision shows FTSE Russell and global investors still have sufficient confidence in Indonesia’s capital market.
Global investors, in particular, continue to appreciate the market’s integrity and investability, he said.
Fawzi also noted FTSE Russell did not place Indonesia on its Watch List, that he said indicates there is no immediate risk of reclassification.
FTSE Russell has also acknowledged the measures Indonesia has taken to accelerate reforms and strengthen capital market integrity.
The assessment highlighted ownership transparency, ownership structures, and free-float calculations for companies listed on the Indonesia Stock Exchange, he said.
Specifically, FTSE Russell cited disclosure of shareholders with stakes above one percent, greater investor-classification granularity, high shareholding concentration, and efforts to raise the market’s minimum free-float requirement.
Fawzi said these developments signal progress in Indonesia’s capital-market reforms, which have advanced over recent months following measures introduced in early April 2026 using data as of March 2026.
During that period, FTSE Russell continued to evaluate developments in Indonesia’s capital market.
“After several months, this is the result of their evaluation during that period. The bottom line is very positive,” Hasan said, referring to FTSE Russell’s detailed announcement on Indonesia’s market.
