Business · Markets · 1 hr ago
Indonesia exchange to remove HSC shares from main index on Nov. 2
Indonesia’s stock exchange, the BEI, will remove high-concentration shares from the IHSG on Nov.
2, 2026.
The IHSG is Indonesia’s main stock index, and the affected companies’ shares will remain listed and available to trade.
HSC shares have ownership concentrated among a small number of holders, leaving relatively few shares available to the public.
The BEI says historical testing found the change should not cause a sharp rise or fall in the index.
Instead, the removed shares’ index weights will be spread proportionally across the remaining index members, so the IHSG will reflect their price movements.
The exchange says the change aims to make the index more credible and representative for investors tracking the market.
Separately, regulators plan to strengthen market investigations and enforcement, with measures expected to begin in November 2026.
The Indonesia Stock Exchange will stop including High Shareholding Concentration (HSC) shares in the Jakarta Composite Index from Nov. 2, 2026.
Exchange chief Jeffrey Hendrik said backtesting found the change would not cause a sharp rise or fall in the index.
The weights of excluded shares will be redistributed proportionally among the remaining index constituents.
The shares will remain listed and available for normal trading.
The exchange says the change is intended to make the index more credible and representative for investors.
- Who
- The Indonesia Stock Exchange (BEI) and its chief, Jeffrey Hendrik.
- What
- The exchange will remove HSC shares from the Jakarta Composite Index and redistribute their index weights among remaining constituents.
- When
- From Nov. 2, 2026.
- Where
- Indonesia’s Jakarta Composite Index.
- Why
- The exchange says the change will improve the index’s credibility and representation of the market, because concentrated ownership can limit public share availability.
This story does not have two clearly opposing sides.
Jeffrey Hendrik said at a press conference that HSC shares would be removed from the Jakarta Composite Index and that backtesting showed no sharp index move was expected.
The removal of HSC shares from the index is scheduled to take effect.
- Effective date
- Nov. 2, 2026
- Index
- Jakarta Composite Index (IHSG)
- Exchange
- Indonesia Stock Exchange (BEI)
- HSC
- High Shareholding Concentration
- Weight redistribution
- Proportionally to the remaining index constituents
5 sources
HSC's Removal from the JCI: Does It Affect Market Cap?
Saham HSC Keluar, Bos BEI Pastikan Gak Motong Kapitalisasi Pasar IHSG
BEI Pastikan Penghapusan Saham HSC Tak Bakal Guncang IHSG
What people are saying
We have backtested that removing HSC shares will not cause a spike, but can make our index more credible and more useful for investors tracking it.
Removing these shares from the index constituents does not mean that the shares concerned will be delisted.
Through law enforcement and the imposition of significant sanctions, we hope to deter those who violate the rules and to bring a higher level of integrity and credible market mechanisms.