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Index Removal Triggers Sharp Decline in Indonesian Family-Linked Stock

Shares linked to one of Indonesia's richest families were removed from global indexes due to concentrated shareholding concerns. Index operators cited shareholding structures that fail to meet inclusion criteria. The stock declines followed warnings from index providers about family-controlled enterprises dominating equity structures. Indonesia's broader markets faced headwinds as the rupiah weakened to record lows amid global market volatility. Bond yields climbed and equities retreated as traders returned from a two-day holiday. The selling pressure reflected inflation concerns sweeping emerging economies. The removals underscore ongoing tension between index custodians and family-controlled conglomerates that dominate Southeast Asian corporate landscapes.