FTSE Russell plans to remove 14 Indonesian stocks in December review
The provisional changes are scheduled for 21 December 2026. Indonesia retains its Secondary Emerging Market classification and remains off the FTSE Watch List.
FTSE Russell has provisionally identified 14 Indonesian stocks for removal from its indices in the December 2026 quarterly review, with the changes scheduled to take effect on 21 December 2026.
The index provider said the review could be revised until trading closes on 4 December 2026 and would become final on 7 December 2026, according to its statement reported by Detikcom.
PT Bank Syariah Indonesia Tbk (BRIS) is the sole Large Cap removal. The Mid Cap deletions are PT Dayamitra Telekomunikasi Tbk (MTEL), also known as Mitratel, and PT Tower Bersama Infrastructure Tbk (TBIG). PT Mitra Adiperkasa Tbk (MAPI) and PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM) are being removed from Small Cap.
Nine stocks account for the Micro Cap removals: PT Bank Mayapada Internasional Tbk (MAYA), PT Indomobil Sukses Internasional Tbk (IMAS), PT Multi Bintang Indonesia Tbk (MLBI), PT Sarana Meditama Metropolitan Tbk (SAME), PT Sariguna Primatirta Tbk (CLEO), PT Sawit Sumbermas Sarana Tbk (SSMS), PT Sumber Tani Agung Resources Tbk (STTA), PT Temas Tbk (TMAS) and PT Tempo Scan Pacific Tbk (TSPC).
In a 13 November 2026 announcement, FTSE Russell said special treatment introduced for Indonesian equities in September 2026 would continue through the December review. It acknowledged regulatory reforms but said more time was needed to assess their effectiveness, including ownership transparency, market monitoring and consistent enforcement.
Some changes, including new stock additions and free-float increases, will remain on hold until at least the March 2027 review. Deletions of stocks that no longer qualify, along with certain other adjustments, will continue.
FTSE Russell also said stocks affected by high shareholding concentration would be removed at market prices in the December review. It will monitor their liquidity to assess whether investors can replicate those prices. Indonesia's Secondary Emerging Market status is unchanged, and the country is not on the FTSE Watch List.
