Indonesia to exclude concentrated-ownership stocks from IHSG
The exchange says the change will take effect on 2 November 2026, with affected stocks’ index weights redistributed to remaining constituents.
The Indonesia Stock Exchange (BEI) will remove stocks classified as having high shareholding concentration (HSC) from the IHSG calculation from 2 November 2026. The exchange said the adjustment would not itself cause a sharp fall or surge in the benchmark.
The move follows the exclusion of HSC stocks from the IDX30, LQ45 and IDX80 indices. BEI president director Jeffrey Hendrik said the weights assigned to affected shares would be spread across stocks remaining in the IHSG.
Speaking at a press conference in Jakarta on 26 October 2026, Jeffrey said subsequent index movements would depend on price changes among the remaining constituents. BEI said historical testing indicated that the adjustment would not produce an index surge. It hopes the change will make the IHSG more representative of Indonesia’s stock market and strengthen its credibility.
Separately, at the Kearney 100 Years of Impact event in Jakarta on 28 October 2026, Jeffrey cited ownership disclosures in arguing that Indonesia may be among the world’s most transparent equity markets. He said Indonesia and India might be the only two countries disclosing shareholders with stakes above 1%.
BEI has also expanded its investor classifications from 9 types to 39. Jeffrey said only Indonesia and Hong Kong publish lists identifying shares with concentrated ownership.
