FTSE Russell Keeps Indonesia's Capital Market Classification

TEMPO.CO, Jakarta - The global index provider FTSE Russell has maintained Indonesia's status as a Secondary Emerging Market. Previously, FTSE Russell postponed the index review for Indonesia in March 2026.

Following the postponement of Indonesia’s index review in March 2026, FTSE Russell said it is reviewing the progress of reform measures aimed at strengthening overall market transparency, integrity, and governance, according to its announcement on Tuesday, April 7, 2026.

In its statement, FTSE Russell said that Indonesia has introduced a series of initiatives, including improving shareholder transparency, broadening investor classifications, and modifying free float requirements. FTSE Russell stated that they will continue to monitor the implementation of these measures.

FTSE Russell stated that they are not considering adding Indonesia to the watch list. "FTSE Russell will confirm the treatment of Indonesian equities in the June 2026 index review, taking into account reform progress and feedback from stakeholders," they wrote.

The announcement by FTSE Russell was positively received by the Financial Services Authority (OJK). According to OJK, Indonesia's status as a Secondary Emerging Market is on par with several countries, such as China and India.

"FTSE Russell's assessment reflects that the initiatives being undertaken through the implementation of the eight Acceleration Action Plans for the Reform of the Integrity of the Indonesian Capital Market demonstrate positive and credible progress in the eyes of global index providers," said Agus Firmansyah, Head of the Department of Surveillance and Integrated Financial Services Sector Policies, in a press release on Wednesday, April 8, 2026.

Read: IDX Officially Implements 15% Free Float Requirement

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