MSCI has delayed a decision on whether to downgrade Indonesia to a frontier market, citing the need to further evaluate reforms set out by regulators to address investability concerns in south-east Asia’s largest economy.
The global index provider also retained South Korea’s classification as an emerging market on Tuesday, frustrating the country’s decades-long effort to be moved into the developed-market category.
MSCI had warned in January it could downgrade Indonesia from emerging market over issues with high shareholding concentration and opaque ownership, factors that it said undermined proper price formation in equity markets.
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