Indonesia Stocks Slide After MSCI Delays High-Stakes Review

Shares tied to some of Indonesia’s wealthiest individuals dragged the equity benchmark lower after MSCI extended its review to June and warned that tightly held stocks could be dropped from its indexes.

The Jakarta Composite Index fell 0.5%, the worst performer in Asia, with PT Barito Renewables Energy and PT Dian Swastatika Sentosa among the worst hit. Both stocks fell over 9% each on Tuesday, after the index compiler said in a statement that it would exclude securities flagged under Indonesia’s new high shareholding concentration framework.