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MSCI Removes Indonesian Billionaire-Linked Stocks From Indexes

MSCI Inc. removed several Indonesian equities from its benchmark indexes after implementing restrictions on companies with concentrated ownership structures. The index operator had signaled the move last month, warning that firms dominated by single shareholders would face exclusion. Share prices of the affected companies declined following the announcement. The removals reflect tightening governance standards among major index providers. As passive investment vehicles tracking MSCI indexes rebalance their holdings, capital flows into Indonesian markets may shift.