-- The Indonesian bourse is looking into removing various companies with a high shareholding concentration from the IDX30, IDX80, and LQ45 indexes, Bloomberg News reported Wednesday.
The change, which will be implemented during the April index review, will take effect on the first trading day of May, the report stated citing a statement by the Indonesia Stock Exchange.
This move, among other reforms recently introduced by Indonesia, will reportedly help mitigate the risk of a downgrade from emerging market status, the news outlet quoted Gary Tan, portfolio manager at Allspring Global Investments, as saying.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)