Indonesia Stocks Pare Losses on Regulator’s Free-Float Plan

Indonesian equities pared most of their losses after regulators said they plan to double the minimum free-float requirements and that its sovereign wealth fund Danantara may actively participate in the market.

The local exchange will lift free float — or the number of shares available for public trading — to 15% from the current 7.5% level starting next month as part of broader reforms, Financial Services Authority Chairman Mahendra Siregar told reporters on Thursday.